BOEING CO, 10-K filed on 2/3/2025
Annual Report
v3.25.0.1
Cover - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2024
Jan. 27, 2025
Jun. 30, 2024
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Document Transition Report false    
Entity File Number 1-442    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 91-0425694    
Entity Address, Address Line One 929 Long Bridge Drive    
Entity Address, City or Town Arlington,    
Entity Address, State or Province VA    
Entity Address, Postal Zip Code 22202    
City Area Code (703)    
Local Phone Number 465-3500    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 112.0
Entity Common Stock, Shares Outstanding   750,074,411  
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE
Part III incorporates information by reference to the registrant’s definitive proxy statement, to be filed with the Securities and Exchange Commission within 120 days after the close of the fiscal year ended December 31, 2024.
    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Entity Registrant Name BOEING CO    
Entity Central Index Key 0000012927    
Current Fiscal Year End Date --12-31    
Common stock      
Entity Information [Line Items]      
Title of 12(b) Security Common Stock, $5.00 Par Value    
Trading Symbol BA    
Security Exchange Name NYSE    
Depositary Shares      
Entity Information [Line Items]      
Title of 12(b) Security Depositary Shares, each representing a 1/20th interest in a share of 6.00% Series A Mandatory Convertible Preferred Stock, $1.00 Par Value    
Trading Symbol BA-PRA    
Security Exchange Name NYSE    
v3.25.0.1
Audit Information
 12 Months Ended
Dec. 31, 2024
Auditor Information [Abstract]  
Auditor name Deloitte & Touche LLP
Auditor location Chicago, Illinois
Auditor firm ID 34
v3.25.0.1
Consolidated Statements of Operations - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Total revenues $ 66,517 $ 77,794 $ 66,608
Total costs and expenses (68,508) (70,070) (63,078)
Gross profit (1,991) 7,724 3,530
Income/(loss) from operating investments, net 71 46 (16)
General and administrative expense (5,021) (5,168) (4,187)
Research and development expense, net (3,812) (3,377) (2,852)
Gain on dispositions, net 46 2 6
Loss from operations (10,707) (773) (3,519)
Other income, net 1,222 1,227 1,058
Interest and debt expense (2,725) (2,459) (2,561)
Loss before income taxes (12,210) (2,005) (5,022)
Income tax benefit/(expense) 381 (237) (31)
Net loss (11,829) (2,242) (5,053)
Less: net loss attributable to noncontrolling interest (12) (20) (118)
Net loss attributable to Boeing shareholders (11,817) (2,222) (4,935)
Less: Mandatory convertible preferred stock dividends accumulated during the period 58
Net loss attributable to Boeing common shareholders (11,875) (2,222) (4,935)
Net loss attributable to Boeing common shareholders $ (11,875) $ (2,222) $ (4,935)
Basic loss per share (in dollars per share) $ (18.36) $ (3.67) $ (8.30)
Diluted loss per share (in dollars per share) $ (18.36) $ (3.67) $ (8.30)
Sales of products      
Total revenues $ 53,227 $ 65,581 $ 55,893
Cost of goods and services sold (57,394) (59,864) (53,969)
Sales of services      
Total revenues 13,290 12,213 10,715
Cost of goods and services sold $ (11,114) $ (10,206) $ (9,109)
v3.25.0.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net loss $ (11,829) $ (2,242) $ (5,053)
Other comprehensive (loss)/income, net of tax:      
Currency translation adjustments (44) 33 (62)
Unrealized gain/(loss) on certain investments, net of tax of $0, $0 and $0 2 (1)
Derivative instruments:      
Unrealized (loss)/gain arising during period, net of tax of $0, ($11) and $12 (258) 41 (40)
Reclassification adjustment for loss/(gain) included in net loss, net of tax of $0, $1 and ($3) 35 (5) 10
Total unrealized (loss)/gain on derivative instruments, net of tax (223) 36 (30)
Defined benefit pension plans & other postretirement benefits:      
Net actuarial (loss)/gain arising during the period, net of tax of ($1), $13 and ($22) (225) (722) 1,533
Amortization of actuarial loss/(gain) included in net periodic pension cost, net of tax of $0, $0 and ($11) 105 (2) 791
Settlement gain included in net periodic cost, net of tax of $0, $0 and $0 (4)
Amortization of prior service credits included in net periodic pension cost, net of tax of $0, $1 and $2 (92) (102) (114)
Prior service credits arising during the period, net of tax of $0, $0 and $0 (140) (1)
Pension and postretirement benefit/(cost) related to our equity method investments, net of tax of $0, $0 and $0 9 (3)
Total defined benefit pension plans & other postretirement benefits, net of tax (343) (826) 2,202
Other comprehensive (loss)/income, net of tax (610) (755) 2,109
Comprehensive loss (12,439) (2,997) (2,944)
Comprehensive loss related to noncontrolling interests (12) (20) (118)
Comprehensive loss attributable to Boeing Shareholders $ (12,427) $ (2,977) $ (2,826)
v3.25.0.1
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Unrealized gain/(loss) on certain investments, tax $ 0 $ 0 $ 0
Unrealized (loss)/gain arising during period, tax 0 (11) 12
Reclassification adjustment for loss/(gain) included in net loss, tax 0 1 (3)
Net actuarial (loss)/gain arising during the period, tax (1) 13 (22)
Amortization of actuarial loss/(gain) included in net periodic pension cost, tax 0 0 (11)
Settlement gain included in net periodic cost, tax 0 0 0
Amortization of prior service credits included in net periodic pension cost, tax 0 1 2
Prior service credits arising during the period, tax 0 0 0
Pension and postretirement benefit/(cost) related to our equity method investments, tax $ 0 $ 0 $ 0
v3.25.0.1
Consolidated Statements of Financial Position - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 13,801 $ 12,691
Short-term and other investments 12,481 3,274
Accounts receivable, net 2,631 2,649
Unbilled receivables, net 8,363 8,317
Current portion of financing receivables, net 207 99
Inventories 87,550 79,741
Other current assets, net 2,965 2,504
Total current assets 127,998 109,275
Financing receivables and operating lease equipment, net 314 860
Property, plant and equipment, net 11,412 10,661
Goodwill 8,084 8,093
Acquired intangible assets, net 1,957 2,094
Deferred income taxes 185 59
Investments 999 1,035
Other assets, net of accumulated amortization of $1,085 and $1,046 5,414 4,935
Total assets 156,363 137,012
Liabilities and equity    
Accounts payable 11,364 11,964
Accrued liabilities 24,103 22,331
Advances and progress billings 60,333 56,328
Short-term debt and current portion of long-term debt 1,278 5,204
Total current liabilities 97,078 95,827
Deferred income taxes 122 229
Accrued retiree health care 2,176 2,233
Accrued pension plan liability, net 5,997 6,516
Other long-term liabilities 2,318 2,332
Long-term debt 52,586 47,103
Total liabilities 160,277 154,240
Shareholders’ equity:    
Common stock, par value $5.00 – 1,200,000,000 shares authorized; 1,012,261,159 shares issued 5,061 5,061
Additional paid-in capital 18,964 10,309
Treasury stock, at cost (32,386) (49,549)
Retained earnings 15,362 27,251
Accumulated other comprehensive loss (10,915) (10,305)
Total shareholders’ deficit (3,908) (17,233)
Noncontrolling interests (6) 5
Total equity (3,914) (17,228)
Total liabilities and equity 156,363 137,012
Mandatory convertible preferred stock    
Shareholders’ equity:    
Mandatory convertible preferred stock, 6.00% Series A, par value $1.00 – 20,000,000 shares authorized; 5,750,000 shares issued; aggregate liquidation preference $5,750 $ 6
v3.25.0.1
Consolidated Statements of Financial Position (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Other assets, net of accumulated amortization $ 1,085 $ 1,046
Preferred stock, shares authorized (in shares) 20,000,000 20,000,000
Common stock, par value (in dollars per share) $ 5.00 $ 5.00
Common stock, shares authorized (in shares) 1,200,000,000 1,200,000,000
Common stock, shares, issued (in shares) 1,012,261,159 1,012,261,159
Mandatory convertible preferred stock    
Preferred stock, dividend rate, percentage 6.00%  
Preferred stock, par value (in dollars per share) $ 1.00  
Preferred stock, shares authorized (in shares) 20,000,000  
Preferred stock, shares, issued (in shares) 5,750,000  
Preferred stock, liquidation preference, value $ 5,750  
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows – operating activities:      
Net loss $ (11,829) $ (2,242) $ (5,053)
Non-cash items –      
Share-based plans expense 407 690 725
Treasury shares issued for 401(k) contribution 1,601 1,515 1,215
Depreciation and amortization 1,836 1,861 1,979
Investment/asset impairment charges, net 112 46 112
Gain on dispositions, net (46) (2) (6)
777X and 767 reach-forward losses 4,079
Other charges and credits, net 528 3 401
Changes in assets and liabilities –      
Accounts receivable (37) (128) 142
Unbilled receivables (60) 321 6
Advances and progress billings 4,069 3,365 108
Inventories (12,353) (1,681) 420
Other current assets (16) 389 (591)
Accounts payable (793) 1,672 838
Accrued liabilities 1,563 779 2,956
Income taxes receivable, payable and deferred (567) 44 1,347
Other long-term liabilities (329) (313) (158)
Pension and other postretirement plans (959) (1,049) (1,378)
Financing receivables and operating lease equipment, net 512 571 142
Other 202 119 307
Net cash (used)/provided by operating activities (12,080) 5,960 3,512
Cash flows – investing activities:      
Payments to acquire property, plant and equipment (2,230) (1,527) (1,222)
Proceeds from disposals of property, plant and equipment 49 27 35
Acquisitions, net of cash acquired (50) (70)
Proceeds from dispositions 124
Contributions to investments (13,856) (16,448) (5,051)
Proceeds from investments 4,743 15,739 10,619
Supplier notes receivable (694) (162)
Repayments on supplier notes receivable 40
Purchase of distribution rights (88)
Other (11) 4 (11)
Net cash (used)/provided by investing activities (11,973) (2,437) 4,370
Cash flows – financing activities:      
New borrowings 10,161 75 34
Debt repayments (8,673) (5,216) (1,310)
Common stock issuance, net of issuance costs 18,200
Mandatory convertible preferred stock issuance, net of issuance costs 5,657
Stock options exercised 45 50
Employee taxes on certain share-based payment arrangements (83) (408) (40)
Other (53) 17
Net cash provided/(used) by financing activities 25,209 (5,487) (1,266)
Effect of exchange rate changes on cash and cash equivalents (47) 30 (73)
Net increase/(decrease) in cash & cash equivalents, including restricted 1,109 (1,934) 6,543
Cash & cash equivalents, including restricted, at beginning of year 12,713 14,647 8,104
Cash & cash equivalents, including restricted, at end of year 13,822 12,713 14,647
Less restricted cash & cash equivalents, included in Investments 21 22 33
Cash and cash equivalents at end of year $ 13,801 $ 12,691 $ 14,614
v3.25.0.1
Consolidated Statements of Equity - USD ($)
$ in Millions
Total
Mandatory convertible preferred stock
Mandatory convertible preferred stock
Common stock
Additional paid-in capital
Treasury stock
Retained earnings
Accumulated other comprehensive loss
Non- controlling interests
Beginning balance at Dec. 31, 2021 $ (14,846) $ 5,061 $ 9,052 $ (51,861) $ 34,408 $ (11,659) $ 153
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net loss (5,053)         (4,935)   (118)
Other comprehensive income (loss), net of tax 2,109           2,109  
Share-based compensation 725     725        
Treasury shares issued for stock options exercised, net 50     (31) 81      
Treasury shares issued for other share-based plans, net (48)     (94) 46      
Treasury shares issued for 401(k) contribution 1,215     295 920      
Ending balance at Dec. 31, 2022 (15,848) 5,061 9,947 (50,814) 29,473 (9,550) 35
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net loss (2,242)         (2,222)   (20)
Other comprehensive income (loss), net of tax (755)           (755)  
Share-based compensation 690     690        
Treasury shares issued for stock options exercised, net 45     (28) 73      
Treasury shares issued for other share-based plans, net (356)     (660) 304      
Treasury shares issued for 401(k) contribution 1,515     627 888      
Subsidiary shares purchased from noncontrolling interests (267)     (267)        
Other changes in noncontrolling interests (10)             (10)
Ending balance at Dec. 31, 2023 (17,228) 5,061 10,309 (49,549) 27,251 (10,305) 5
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net loss (11,829)         (11,817)   (12)
Other comprehensive income (loss), net of tax (610)           (610)  
Share-based compensation 407     407        
Mandatory convertible preferred stock issued, net of issuance costs 5,651 6   5,645        
Common stock issued, net of issuance costs 18,181     2,253 15,928      
Treasury shares issued for other share-based plans, net (16)     (145) 129      
Treasury shares issued for 401(k) contribution 1,601     495 1,106      
Cash dividends declared on Mandatory convertible preferred stock (72)         (72)    
Other changes in noncontrolling interests 1             1
Ending balance at Dec. 31, 2024 $ (3,914) $ 6 $ 5,061 $ 18,964 $ (32,386) $ 15,362 $ (10,915) $ (6)
v3.25.0.1
Consolidated Statements of Equity (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]      
Other comprehensive income (loss), tax $ (1) $ 4 $ 22
v3.25.0.1
Summary of Business Segment Data
 12 Months Ended
Dec. 31, 2024
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Summary of Business Segment Data
The Boeing Company and Subsidiaries
Notes to the Consolidated Financial Statements
Summary of Business Segment Data
(Dollars in millions) 
Years ended December 31,
202420232022
Revenues:
Commercial Airplanes$22,861 $33,901 $26,026 
Defense, Space & Security23,918 24,933 23,162 
Global Services19,954 19,127 17,611 
Unallocated items, eliminations and other(216)(167)(191)
Total revenues$66,517 $77,794 $66,608 
Loss from operations:
Commercial Airplanes($7,969)($1,635)($2,341)
Defense, Space & Security(5,413)(1,764)(3,544)
Global Services3,618 3,329 2,727 
Segment operating loss(9,764)(70)(3,158)
Unallocated items, eliminations and other(2,047)(1,759)(1,504)
FAS/CAS service cost adjustment1,104 1,056 1,143 
Loss from operations(10,707)(773)(3,519)
Other income, net1,222 1,227 1,058 
Interest and debt expense(2,725)(2,459)(2,561)
Loss before income taxes(12,210)(2,005)(5,022)
Income tax benefit/(expense)381 (237)(31)
Net loss(11,829)(2,242)(5,053)
Less: net loss attributable to noncontrolling interest(12)(20)(118)
Net loss attributable to Boeing shareholders(11,817)(2,222)(4,935)
Less: Mandatory convertible preferred stock dividends accumulated during the period58   
Net loss attributable to Boeing common shareholders($11,875)($2,222)($4,935)
This information is an integral part of the Notes to the Consolidated Financial Statements. See Note 23 for further segment results.
v3.25.0.1
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Principles of Consolidation and Basis of Presentation
The Consolidated Financial Statements included in this report have been prepared by management of The Boeing Company (herein referred to as “Boeing,” the “Company,” “we,” “us” or “our”). These statements include the accounts of all majority-owned subsidiaries and variable interest entities that are required to be consolidated. All significant intercompany accounts and transactions have been eliminated. As described in Note 23, we operate in three reportable segments: Commercial Airplanes (BCA), Defense, Space & Security (BDS), and Global Services (BGS). We added a new financial statement line item to the Consolidated Statements of Cash Flows for cash invested in Supplier notes receivable and reclassified the corresponding amounts in the prior period financial statements to conform to the current period presentation.
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Operating Cycle
For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year.
Revenue and Related Cost Recognition
Commercial aircraft contracts The majority of our BCA segment revenue is derived from commercial aircraft contracts. For each contract, we determine the transaction price based on the consideration expected to be received. We allocate the transaction price to each commercial aircraft performance obligation based on relative standalone selling prices adjusted by an escalation formula as specified in the customer agreement. Revenue is recognized for each commercial aircraft performance obligation at the point in time when the aircraft is completed and accepted by the customer. We use program accounting to determine the amount reported as cost of sales.
Payments for commercial aircraft sales are received in accordance with the customer agreement, which generally includes a deposit upon order and additional payments in accordance with a payment schedule, with the balance being due immediately prior to or at aircraft delivery. Advances and progress billings (contract liabilities) are normal and customary for commercial aircraft contracts and not considered a significant financing component as they are intended to protect us from the other party failing to adequately complete some or all of its obligations under the contract.
Long-term contracts Substantially all contracts at BDS and certain contracts at BGS are long-term contracts with the U.S. government and other customers that generally extend over several years. Products sales under long-term contracts primarily include fighter jets, rotorcraft, cybersecurity products, surveillance suites, advanced weapons, missile defense, military derivative aircraft, satellite systems and modification of commercial passenger aircraft to cargo freighters. Sales of services under
long-term contracts primarily include support and maintenance agreements associated with our commercial and defense products and space travel on Commercial Crew.
For each long-term contract, we determine the transaction price based on the consideration expected to be received. We allocate the transaction price to each distinct performance obligation to deliver a good or service, or a collection of goods and/or services, based on the relative standalone selling prices. A long-term contract will typically represent a single distinct performance obligation due to the highly interdependent and interrelated nature of the underlying goods and/or services and the significant service of integration that we provide. While the scope and price on certain long-term contracts may be modified over their life, the transaction price is based on current rights and obligations under the contract and does not include potential modifications until they are agreed upon with the customer. When applicable, a cumulative adjustment or separate recognition for the additional scope and price may result. Long-term contracts can be negotiated with a fixed price or a price in which we are reimbursed for costs incurred plus an agreed upon profit. The Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing the price for contracts with the U.S. government. Certain long-term contracts include in the transaction price variable consideration, such as incentive and award fees, if specified targets are achieved. The amount included in the transaction price represents the expected value, based on a weighted probability, or the most likely amount.
Long-term contract revenue is recognized over the contract term (over time) as the work progresses, either as products are produced or as services are rendered. We generally recognize revenue over time as we perform on long-term contracts because of continuous transfer of control to the customer. For U.S. government contracts, this continuous transfer of control to the customer is supported by clauses in the contract that allow the customer to unilaterally terminate the contract for convenience, pay us for costs incurred plus a reasonable profit and take control of any work in process. Similarly, for non-U.S. government contracts, the customer typically controls the work in process as evidenced either by contractual termination clauses or by our rights to payment of the transaction price associated with work performed to date on products or services that do not have an alternative use to the Company.
The accounting for long-term contracts involves a judgmental process of estimating total revenues, costs and profit for each performance obligation. Cost of sales is recognized as incurred. The amount reported as revenues is determined by adding a proportionate amount of the estimated profit to the amount reported as cost of sales. Recognizing revenue as costs are incurred provides an objective measure of progress on the long-term contract and thereby best depicts the extent of transfer of control to the customer.
For long-term contracts for which revenue is recognized over time, changes in estimated revenues, cost of sales and the related effect on operating income are recognized using a cumulative catch-up adjustment which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a long-term contract’s percentage-of-completion. When the current estimates of total revenues and costs at completion for a long-term contract indicate a loss, a provision for the entire reach-forward loss on the long-term contract is recognized.
The table below reflects the impact of net cumulative catch-up adjustments for changes in estimated revenues and costs at completion across all long-term contracts including the impact to Loss from operations from estimated losses on unexercised options for the years ended December 31:
202420232022
Decrease to Revenue($2,794)($1,706)($2,335)
Increase to Loss from operations ($6,562)($2,943)($5,253)
Increase to Diluted loss per share
($9.83)($5.43)($8.88)
Significant adjustments during the three years ended December 31, 2024 included losses on KC-46A Tanker, T-7A Red Hawk, Commercial Crew, VC-25B and MQ-25 programs.
Due to the significance of judgment in the estimation process, changes in underlying operational assumptions, inability to implement planned risk mitigation plans, failure to achieve productivity targets, supplier shortages, quality issues and/or pricing issues, inflationary trends, or other circumstances may adversely or positively affect financial performance in future periods.
Payments under long-term contracts may be received before or after revenue is recognized. The U.S. government customer typically withholds payment of a small portion of the contract price until contract completion. Therefore, long-term contracts typically generate Unbilled receivables (contract assets) but may generate Advances and progress billings (contract liabilities). Long-term contract Unbilled receivables and Advances and progress billings are not considered a significant financing component because they are intended to protect either the customer or the Company in the event that some or all of the obligations under the contract are not completed.
Commercial spare parts contracts Certain contracts at our BGS segment include sales of commercial spare parts. For each contract, we determine the transaction price based on the consideration expected to be received. The spare parts have discrete unit prices that represent fair value. We generally consider each spare part to be a separate performance obligation. Revenue is recognized for each commercial spare part performance obligation at the point in time of delivery to the customer. We may provide our customers with a right to return a commercial spare part where a customer may receive a full or partial refund, a credit applied to amounts owed, a different product in exchange, or any combination of these items. We consider the potential for customer returns in the estimated transaction price. The amount reported as cost of sales is recorded at average cost. Payments for commercial spare parts sales are typically received shortly after delivery.
Other service revenue contracts Certain contracts at our BGS segment are for sales of services to commercial customers including maintenance, training, data analytics and information-based services. We recognize revenue for these service performance obligations over time as the services are rendered. The method of measuring progress (such as straight-line or billable amount) varies depending upon which method best depicts the transfer of control to the customer based on the type of service performed. Cost of sales is recorded as incurred.
Concession sharing arrangements We account for sales concessions to our customers in consideration of their purchase of products and services as a reduction of the transaction price and the revenue that is recognized for the related performance obligations. The sales concessions incurred may be partially reimbursed by certain suppliers in accordance with concession sharing arrangements. We record these reimbursements, which are presumed to represent reductions in the price of the vendor’s products or services, as a reduction in Cost of products.
Unbilled receivables and advances and progress billings Unbilled receivables (contract assets) arise when the Company recognizes revenue for amounts which cannot yet be billed under terms of the contract with the customer. Advances and progress billings (contract liabilities) arise when the Company receives payments from customers in advance of recognizing revenue. The amount of Unbilled receivables or Advances and progress billings is determined for each contract.
Financial services revenue We record financial services revenue associated with sales-type leases, operating leases and loans in Sales of services on the Consolidated Statements of Operations. For sales-type leases, we recognize selling profit or loss at lease inception if collection of the lease payments is probable. For sales-type leases, we record financing receivables at lease inception. A financing receivable is recorded at the aggregate of future lease payments, estimated residual value of the leased equipment, and any deferred incremental direct costs less unearned income. Income is recognized over the life of the lease to approximate a level rate of return on the net investment. For
notes receivable, we record financing receivables net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note.
Income recognition is generally suspended for financing receivables that are uncollectible. We determine that a financing receivable is uncollectible when, based on current information and events, it is probable that we will be unable to collect amounts due according to the original contractual terms. We determine a financing receivable is past due when cash has not been received upon the due date specified in the contract.
We evaluate the collectability of financing receivables at commencement and on a recurring basis. If a financing receivable is determined to be uncollectible, the customer is categorized as non-accrual status. When a customer is in non-accrual status at commencement, sales-type lease revenue is deferred until substantially all cash has been received or the customer is removed from non-accrual status. If we have a note receivable with a customer that is in non-accrual status, or a sales-type lease with a customer that changes to non-accrual status after commencement, we recognize contractual interest income as payments are received to the extent there is sufficient collateral and payments exceed past due principal payments.
Residual values, which are reviewed periodically, represent the estimated amount we expect to receive at lease termination from the disposition of the leased equipment. Actual residual values realized could differ from these estimates. Declines in estimated residual value that are deemed other-than-temporary are recognized in the period in which the declines occur.
For operating leases, revenue on leased aircraft and equipment is recorded on a straight-line basis over the term of the lease. Operating lease assets, included in Financing receivables and operating lease equipment, net, are recorded at cost and depreciated to an estimated residual value using the straight-line method over the period that we project we will hold the asset. We periodically review our estimates of residual value and recognize forecasted changes by prospectively adjusting depreciation expense. We record assets held for sale at the lower of carrying value or fair value less costs to sell. We evaluate for impairment assets under operating leases when events or changes in circumstances indicate that the expected undiscounted cash flow from the asset may be less than the carrying value. When we determine that impairment is indicated for an asset, the amount of impairment expense recorded is the excess of the carrying value over the fair value of the asset.
Reinsurance Our wholly-owned insurance subsidiary, Astro Ltd., participates in a reinsurance pool for workers’ compensation. The member agreements and practices of the reinsurance pool minimize any participating members’ individual risk. Reinsurance revenues were $110, $163 and $129 during 2024, 2023 and 2022, respectively. Reinsurance costs related to premiums and claims paid to the reinsurance pool were $123, $181 and $134 during 2024, 2023 and 2022, respectively. Revenues and costs are presented net in Cost of products and Cost of services in the Consolidated Statements of Operations.
Research and Development
Research and development includes costs incurred for experimentation, design and testing, as well as bid and proposal efforts related to government products and services, which are expensed as incurred unless the costs are related to certain contractual arrangements with customers. Costs that are incurred pursuant to such contractual arrangements are recorded over the period that revenue is recognized, consistent with our long-term contract accounting policy. We have certain research and development arrangements with customers that meet the conditions for best efforts research and development accounting. Accordingly, the amounts funded by the customer are recognized as an offset to our research and development expense rather than as contract revenues. Research and development expense, net included bid and proposal costs of $179, $188 and $217 in 2024, 2023 and 2022, respectively.
Share-Based Compensation
We provide various forms of share-based compensation to our employees. For awards settled in shares, we measure compensation expense based on the grant-date fair value net of estimated forfeitures. For awards settled in cash, or that may be settled in cash, we measure compensation expense based on the fair value at each reporting date net of estimated forfeitures. The expense is recognized over the requisite service period, which is generally the vesting period of the award.
Income Taxes
Provisions for U.S. federal, state and local, and non-U.S. income taxes are calculated on reported Loss before income taxes based on current tax law and also include, in the current period, the cumulative effect of any changes in tax rates from those used previously in determining deferred tax assets and liabilities. Such provisions differ from the amounts currently receivable or payable because certain items of income and expense are recognized in different time periods for financial reporting purposes than for income tax purposes. Significant judgment is required in determining income tax provisions and evaluating tax positions.
The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. We record a liability for the difference between the benefit recognized and measured for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. Tax-related interest and penalties are classified as a component of Income tax benefit/(expense).
We also assess the likelihood that we will be able to recover our deferred tax assets against future sources of taxable income and reduce the carrying amounts of deferred tax assets by recording a valuation allowance if, based on the available evidence, it is more likely than not that all or a portion of such assets will not be realized. Changes in our estimates and judgments regarding realization of deferred tax assets may result in an increase or decrease to our tax expense and/or other comprehensive income, which would be recorded in the period in which the change occurs.
Postretirement Plans
Many of our employees have earned benefits under defined benefit pension plans. The majority of employees that had participated in defined benefit pension plans have transitioned to a company-funded defined contribution retirement savings plan. We also provide postretirement benefit plans other than pensions, consisting principally of health care coverage to eligible retirees and qualifying dependents. Benefits under the pension and other postretirement benefit plans are generally based on age at retirement and years of service and, for some pension plans, benefits are also based on the employee’s annual earnings. The net periodic cost of our pension and other postretirement plans is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate, the long-term rate of asset return and medical trend (rate of growth for medical costs). Actuarial gains and losses, which occur when actual experience differs from actuarial assumptions, are reflected in Shareholders’ equity (net of taxes). If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities, we amortize them over the average expected future lifetime of participants. The funded status of our pension and postretirement plans is reflected on the Consolidated Statements of Financial Position.
Postemployment Plans
We record a liability for postemployment benefits, such as severance or job training, when payment is probable and the amount is reasonably estimable.
Environmental Remediation
We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable.
Cash and Cash Equivalents
Cash and cash equivalents consist of highly liquid instruments, such as commercial paper, time deposits and other money market instruments, which have original maturities of three months or less. We aggregate our cash balances by bank where conditions for right of set-off are met, and reclassify any negative balances, consisting mainly of uncleared checks, to Accounts payable. Negative balances reclassified to Accounts payable were $110 and $117 at December 31, 2024 and 2023.
Inventories
Inventoried costs on commercial aircraft programs and long-term contracts include direct engineering, production and tooling and other non-recurring costs, and applicable overhead, which includes fringe benefits, production related indirect and plant management salaries and plant services, not in excess of estimated net realizable value. To the extent a material amount of such costs are related to an abnormal event or are fixed costs not appropriately attributable to our programs or contracts, they are expensed in the current period rather than inventoried. Inventoried costs include amounts relating to programs and contracts with long-term production cycles, a portion of which is not expected to be realized within one year. Included in inventory for federal government contracts is an allocation of allowable costs related to manufacturing process reengineering.
Commercial aircraft programs inventory includes deferred production costs and supplier advances. Deferred production costs represent actual costs incurred for production of early units that exceed the estimated average cost of all units in the program accounting quantity. Higher production costs are experienced at the beginning of a new or derivative aircraft program. Units produced early in a program require substantially more effort (labor and other resources) than units produced later in a program because of volume efficiencies and the effects of learning. We expect that these deferred costs will be fully recovered when all units included in the accounting quantity are delivered as the expected unit cost for later deliveries is below the estimated average cost of all units in the program. Supplier advances represent payments for parts we have contracted to receive from suppliers in the future. As parts are received, supplier advances are amortized to work in process.
The determination of net realizable value of long-term contract costs is based upon quarterly reviews that estimate costs to be incurred to complete all contract requirements. When actual contract costs and the estimate to complete exceed total estimated contract revenues, a loss provision is recorded. The determination of net realizable value of commercial aircraft program costs is based upon quarterly program reviews that estimate revenue and cost to be incurred to complete the program accounting quantity. When estimated costs to complete exceed estimated program revenues to go, a program loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity.
Used aircraft purchased by our BCA segment and general stock materials are stated at cost not in excess of net realizable value. Spare parts inventory is stated at lower of average unit cost or net realizable value. We review our commercial spare parts and general stock materials quarterly to identify impaired inventory, including excess or obsolete inventory, based on historical sales trends, expected production usage, and the size and age of the aircraft fleet using the part. Impaired inventories are charged to Cost of products in the period the impairment occurs.
Included in inventory for commercial aircraft programs are amounts paid or credited in cash, or other consideration to certain airline customers, that are referred to as early issue sales consideration. Early issue sales consideration is recognized as a reduction to revenue when the delivery of the aircraft under contract occurs. If an airline customer does not perform and take delivery of the contracted aircraft, we believe that we would have the ability to recover amounts paid. However, to the extent early issue sales consideration exceeds advances and is not considered to be otherwise recoverable, it would be written off against revenue of the current period.
Precontract Costs
We may, from time to time, incur costs in excess of the amounts required for existing contracts. If we determine the costs are probable of recovery from future orders, then we capitalize the precontract costs we incur, excluding start-up costs which are expensed as incurred. Capitalized precontract costs are included in Inventories in the accompanying Consolidated Statements of Financial Position. Should future orders not materialize or we determine the costs are no longer probable of recovery, the capitalized costs would be written off.
Property, Plant and Equipment
Property, plant and equipment are recorded at cost, including applicable construction-period interest, less accumulated depreciation and are depreciated principally over the following estimated useful lives: new buildings and land improvements, from 10 to 40 years; and new machinery and equipment, from 4 to 20 years. The principal method of depreciation for buildings and land improvements is 150% declining balance and for machinery and equipment is sum-of-the-years’ digits. Capitalized internal use software is included in Other assets, net and amortized using the straight line method over 5 years. Capitalized costs of software purchased as a service are included in Other assets, net and amortized using the straight line method over the term of the hosting arrangement, which is typically no greater than 10 years. We periodically evaluate the appropriateness of remaining depreciable lives assigned to long-lived assets, including assets that may be subject to a management plan for disposition.
Long-lived assets held for sale are stated at the lower of cost or fair value less cost to sell. Long-lived assets held for use are subject to an impairment assessment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.
Leases
We determine if an arrangement is, or contains, a lease under which we are the lessee at the inception date. Operating lease assets are included in Other assets, net, with the related liabilities included in Accrued liabilities and Other long-term liabilities. Assets under finance leases, which primarily represent computer equipment, are included in Property, plant and equipment, net, with the related liabilities included in Short-term debt and current portion of long-term debt and Long-term debt on the Consolidated Statements of Financial Position.
Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease
assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as fair market value adjustments, utilities and maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for operating leases is recognized on a straight-line basis over the lease term.
We have real property lease agreements with lease and non-lease components which are accounted for as a single lease component.
Asset Retirement Obligations
We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning and contractual lease restoration obligations. Recorded amounts are not material.
We also have known conditional asset retirement obligations, such as certain asbestos remediation and asset decommissioning activities to be performed in the future, that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the Consolidated Financial Statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations that we have not yet discovered (e.g. asbestos may exist in certain buildings but we have not become aware of it through the normal course of business), and therefore, these obligations also have not been included in the Consolidated Financial Statements.
Goodwill and Other Acquired Intangibles
Goodwill and other acquired intangible assets with indefinite lives are not amortized, but are tested for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is April 1.
We test goodwill for impairment by performing a qualitative assessment or using a quantitative test. If we choose to perform a qualitative assessment and determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the quantitative test is then performed; otherwise, no further testing is required. For operations where the quantitative test is used, we compare the carrying value of net assets to the estimated fair value of the related operations. If the fair value is determined to be less than carrying value, the shortfall up to the carrying value of the goodwill represents the amount of goodwill impairment.
We performed our annual goodwill impairment test as of April 1, 2024, using a qualitative assessment. We determined the fair value of each of our reporting units substantially exceeded their respective carrying values. Our Military Aircraft reporting unit within our BDS segment had goodwill of $1,295 and a negative carrying value at December 31, 2024.
Indefinite-lived intangibles consist of a brand and trade name and in-process research and development (IPR&D) acquired in business combinations. IPR&D is initially capitalized at fair value as an intangible asset with an indefinite life and assessed for impairment thereafter. IPR&D is reclassified to finite-lived acquired intangible assets when a project is completed and then amortized on a straight-line basis over the asset’s estimated useful life. We test these intangibles for impairment by comparing the carrying values to current projections of related discounted cash flows. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment.
Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives as follows: developed technology, from 4 to 14 years; product know-how, from 6 to 30 years; customer base, from 3 to 17 years; distribution rights, from 3 to 27 years; and other, from 1 to 32 years. We evaluate the potential impairment of finite-lived acquired intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.
Investments
Time deposits are held-to-maturity investments that are carried at cost.
Available-for-sale debt investments include commercial paper, corporate notes and U.S. government agency securities. Available-for-sale debt investments are recorded at fair value, and unrealized gains and losses are recorded, net of tax, as a component of accumulated other comprehensive income. Realized gains and losses on available-for-sale debt investments are recognized based on the specific identification method. Available-for-sale debt investments are assessed for impairment quarterly.
The equity method of accounting is used to account for investments for which we have the ability to exercise significant influence, but not control, over an investee. Significant influence is generally deemed to exist if we have an ownership interest in the voting stock of an investee of between 20% and 50%. The cumulative earnings approach is used for cash flow classification of distributions received from equity method investments.
Other Equity investments are recorded at fair value, with gains and losses recorded through net earnings. Equity investments without readily determinable fair value are measured at cost, less impairments, plus or minus observable price changes. Equity investments without readily determinable fair value are assessed for impairment quarterly.
We classify investment income and loss on our Consolidated Statements of Operations based on whether the investment is operating or non-operating in nature. Operating investments align strategically and are integrated with our operations. Earnings from operating investments, including our share of income or loss from equity method investments, dividend income from other equity investments, and any impairments or gain/loss on the disposition of these investments, are recorded in Income/(loss) from operating investments, net. Non-operating investments are those we hold for non-strategic purposes. Earnings from non-operating investments, including interest and dividends on marketable securities, and any impairments or gain/loss on the disposition of these investments are recorded in Other income, net.
Derivatives
All derivative instruments are recognized in the financial statements and measured at fair value regardless of the purpose or intent of holding them. We principally use derivative instruments to manage a variety of market risks. For our cash flow hedges, the derivative’s gain or loss is initially reported in comprehensive income and is subsequently reclassified into earnings in the same period(s) during which the hedged forecasted transaction affects earnings.
We have agreements to purchase and sell aluminum to address long-term strategic sourcing objectives and non-U.S. business requirements. We also hold certain other derivative instruments for economic purposes. These aluminum purchase and sale agreements and other derivative instruments are derivatives for accounting purposes but are not designated as hedges for accounting purposes. For these aluminum agreements and other derivative instruments not designated for hedge accounting treatment, the changes in their fair value are recorded in earnings immediately.
Allowances for Losses on Certain Financial Assets
We establish allowances for credit losses on accounts receivable, unbilled receivables, financing receivables and certain other financial assets. The adequacy of these allowances is assessed quarterly through consideration of factors such as customer credit ratings, bankruptcy filings, published or estimated credit default rates, age of the receivable, expected loss rates and collateral exposures. Collateral exposure is the excess of the carrying value of a financial asset over the fair value of the related collateral. We determine the creditworthiness of our customers by assigning internal credit ratings based upon publicly available information and information obtained directly from the customers. Our rating categories are comparable to those used by major credit rating agencies.
Financing receivables are collateralized by security in the related asset. We use a median calculated from published collateral values from multiple third-party aircraft value publications based on the type and age of the aircraft to determine the fair value of aircraft collateral. Under certain circumstances, we apply judgment based on the attributes of the specific aircraft or equipment, usually when the features or use of the aircraft vary significantly from the more generic aircraft attributes covered by outside publications.
We have entered into agreements with certain customers and suppliers to whom we have provided financing that would entitle us to look beyond the specific collateral underlying the receivable for purposes of determining the collateral exposure. Should the proceeds from the sale of the underlying collateral asset resulting from a default condition be insufficient to cover the carrying value of our receivable (creating a shortfall condition), these agreements would, for example, permit us to take the actions necessary to sell or retain certain other assets in which the customer or supplier has an equity interest and use the proceeds to cover the shortfall.
Commercial Aircraft Trade-in Commitments
In conjunction with signing a definitive agreement for the sale of new commercial aircraft (Sale Aircraft), we have entered into trade-in commitments with certain customers that give them the right to trade in used aircraft at a specified price.
Exposure related to trade-in commitments may take the form of:
(1)adjustments to revenue for the difference between the contractual trade-in price in the definitive agreement and our best estimate of the fair value of the trade-in aircraft as of the date of such agreement, which would be recognized upon delivery of the Sale Aircraft, and/or
(2)charges to cost of products for adverse changes in the fair value of trade-in aircraft that occur subsequent to signing of a definitive agreement for Sale Aircraft but prior to the purchase of the used trade-in aircraft. Estimates based on current aircraft values would be included in Accrued liabilities.
The fair value of trade-in aircraft is determined using aircraft-specific data such as model, age and condition, market conditions for specific aircraft and similar models, and multiple valuation sources. This process uses our assessment of the market for each trade-in aircraft, which in most instances begins years before the return of the aircraft. There are several possible markets in which we continually pursue opportunities to place used aircraft. These markets include, but are not limited to, the resale market, which could potentially include the cost of long-term storage; the leasing market, with the potential for refurbishment costs to meet the leasing customer’s requirements; or the scrap market. Trade-in aircraft valuation varies significantly depending on which market we determine is most likely for each aircraft. On a quarterly basis, we update our valuation analysis based on the actual activities associated with placing each aircraft into a market or using current published third-party aircraft valuations based on the type and age of the aircraft, adjusted for individual attributes and known conditions.
Warranties
In conjunction with certain product sales, we provide warranties that cover factors such as non-conformance to specifications and defects in material and design. The majority of our warranties are issued by our BCA segment. Generally, aircraft sales are accompanied by a 3 to 4-year standard warranty for systems, accessories, equipment, parts, and software manufactured by us or manufactured to certain standards under our authorization. These warranties are included in the estimates to complete the related programs. On occasion we have made commitments beyond the standard warranty obligation to correct fleet-wide major issues of a particular model, resulting in additional accrued warranty expense. Warranties issued by our BDS segment principally relate to sales of military aircraft and weapons systems. These sales are generally accompanied by a six month to two-year warranty period and cover systems, accessories, equipment, parts and software manufactured by us to certain contractual specifications. Estimated costs related to standard warranties are recorded in the period in which the related product delivery occurs. The warranty liability recorded at each balance sheet date reflects the estimated number of months of warranty coverage outstanding for products delivered times the average of historical monthly warranty payments, as well as additional amounts for certain major warranty issues that exceed a normal claims level. Estimated costs of these additional warranty issues are considered changes to the initial liability estimate.
We provide guarantees to certain commercial aircraft customers which include compensation provisions for failure to meet specified aircraft performance targets. We account for these performance guarantees as warranties. The estimated liability for these warranties is based on known and anticipated operational characteristics and forecasted customer operation of the aircraft relative to contractually specified performance targets, and anticipated settlements when contractual remedies are not specified. Estimated payments are recorded as a reduction of revenue at delivery of the related aircraft. We have agreements that require certain suppliers to compensate us for amounts paid to customers for failure of supplied equipment to meet specified performance targets. Claims against suppliers under these agreements are included in Inventories and recorded as a reduction in Cost of products at delivery of the related aircraft. These performance warranties and claims against suppliers are included in estimates to complete the related programs.
Supplier Penalties
We may incur penalties to suppliers under certain circumstances such as a contract termination. We record an accrual for supplier penalties when an event occurs that makes it probable we will incur a supplier penalty and the amount is reasonably estimable.
Guarantees
At the inception of a guarantee, we record a liability in Accrued liabilities for the fair value of the guarantee. For credit guarantees, the liability is equal to the present value of the expected loss. We determine the expected loss by multiplying the creditor’s default rate by the guarantee amount reduced by the expected recovery, if applicable. We also recognize a liability for the expected contingent loss at inception and adjust it each quarter.
v3.25.0.1
Spirit Acquisition
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Spirit Acquisition Spirit Acquisition
On June 30, 2024, we entered into an Agreement and Plan of Merger (the Merger Agreement) pursuant to which we have agreed to acquire Spirit AeroSystems Holdings, Inc. (Spirit) in an all-stock transaction at an equity value of approximately $4,700, or $37.25 per share of Spirit Class A Common Stock. The transaction will include the assumption of Spirit's net debt at closing.
Each share of Spirit common stock will be exchanged for a number of shares of Boeing common stock equal to an exchange ratio between 0.18 and 0.25, calculated as $37.25 divided by the volume weighted average share price of Boeing shares over the 15-trading-day period ending on the second trading day prior to the closing (subject to a floor of $149.00 per share and a ceiling of $206.94 per share). Spirit stockholders will receive 0.25 Boeing shares for each of their Spirit shares if the volume-weighted average price is at or below $149.00, and 0.18 Boeing shares for each of their Spirit shares if the volume-weighted average price is at or above $206.94 per share.
Boeing's acquisition of Spirit will include substantially all Boeing-related commercial operations, as well as certain other operations.
Spirit has also entered into a binding term sheet with Airbus SE (Airbus) setting forth the terms upon which Airbus will, assuming the parties enter into definitive agreements and receive all required regulatory approvals, acquire certain commercial work packages that Spirit performs for Airbus concurrently with the closing of the Boeing-Spirit merger. In addition, Spirit is selling certain of its other operations.
The transaction is expected to close mid-2025 and is subject to the sale of the Spirit operations related to certain Airbus commercial work packages and the satisfaction of customary closing conditions, including certain regulatory approvals. On January 31, 2025, Spirit’s stockholders approved the Merger Agreement and the related transactions.
The Merger Agreement contains certain termination rights, including that either Boeing or Spirit may terminate the Merger Agreement if, subject to certain limitations, the transaction has not been consummated by March 31, 2025 (subject to three automatic three-month extensions if on each such date all of the closing conditions except those relating to regulatory approvals have been satisfied or waived) (the Outside Date). If either party breaches or fails to perform any of its representations, warranties or covenants under the Merger Agreement such that the related conditions to the other party's obligation to consummate the Merger would not be satisfied, and such breach or failure is not curable by the Outside Date or, if curable by the Outside Date, has not been cured within 30 days following notice thereof, such other party may terminate the Merger Agreement.
The Merger Agreement also provides that we will be required to pay Spirit a termination fee of $300 if the Merger Agreement is terminated by Spirit or Boeing under certain specified circumstances as a result of the parties' failure to obtain the required regulatory approvals by the Outside Date or in the event that any law or order related to the required regulatory approvals or any applicable antitrust law or foreign investment law prohibits the consummation of the Merger.
During 2023 and 2024, Boeing reached agreements to provide Spirit up to $1,067 to support its liquidity, rate readiness, and 787 tooling and capital expenditures, of which $166 has yet to be drawn. At December 31, 2024 and 2023, Other current assets included $539 and $0 and Other assets included $299 and $143. At December 31, 2024 and 2023, advance payments to Spirit of $165 and $223 were included in Inventories and are scheduled to be recovered as the related shipsets are received by Boeing from Spirit.
On January 22, 2025, Boeing and Spirit reached an agreement to reschedule repayment dates for $515 to 2026. This includes changing repayment of $425 originally due in 2024 to 2026. In the event that the
Merger Agreement is terminated in accordance with its terms, the then outstanding balances will become due and payable in full on April 1, 2026.
v3.25.0.1
Goodwill and Acquired Intangibles
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Acquired Intangibles Goodwill and Acquired Intangibles
Changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 were as follows:
Commercial
Airplanes		Defense, Space & SecurityGlobal ServicesOtherTotal
Balance at December 31, 2022$1,316 $3,224 $3,432 $85 $8,057 
Acquisitions3 11 16 30 
Goodwill adjustments6 6 
Balance at December 31, 2023$1,319 $3,235 $3,454 $85 $8,093 
Acquisitions9 9 18 
Dispositions(17)(17)
Goodwill adjustments(10)(10)
Balance at December 31, 2024$1,328 $3,218 $3,444 $94 $8,084 
As of December 31, 2024 and 2023, we had indefinite-lived intangible assets with carrying amounts of $197 relating to trade names. As of December 31, 2024 and 2023, we had an indefinite-lived intangible asset with a carrying amount of $202 related to in process research and development for a next-generation air vehicle.
The gross carrying amounts and accumulated amortization of our acquired finite-lived intangible assets were as follows at December 31:
20242023
Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Distribution rights$2,501 $1,554 $2,545 $1,566 
Product know-how546 475 552 465 
Customer base1,315 851 1,358 837 
Developed technology573 528 638 569 
Other278 247 280 241 
Total$5,213 $3,655 $5,373 $3,678 
Amortization expense for acquired finite-lived intangible assets for the years ended December 31, 2024 and 2023 was $223 and $235. Estimated amortization expense for the five succeeding years is as follows:
20252026202720282029
Estimated amortization expense$207 $202 $182 $155 $155 
v3.25.0.1
Earnings Per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic and diluted earnings per share are computed using the two-class method, which is an earnings allocation method that determines earnings per share for common shares and participating securities. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. Participating securities and common shares have equal rights to undistributed earnings.
Basic earnings per share is calculated by taking net earnings attributable to Boeing shareholders, less Mandatory convertible preferred stock dividends accumulated during the period and earnings available to participating securities, divided by the basic weighted average common shares outstanding.
Diluted earnings per share is calculated by taking net earnings attributable to Boeing shareholders, less Mandatory convertible preferred stock dividends accumulated during the period and earnings available to participating securities, divided by the diluted weighted average common shares outstanding. Diluted weighted average common shares outstanding is calculated using the treasury stock method for share-based compensation awards and the if-converted method for mandatory convertible preferred shares.
The elements used in the computation of Basic and Diluted loss per share were as follows:
(In millions - except per share amounts)
Years ended December 31,202420232022
Net loss attributable to Boeing shareholders($11,817)($2,222)($4,935)
Less: Mandatory convertible preferred stock dividends accumulated during the period
58 
Less: earnings available to participating securities
Net loss available to common shareholders($11,875)($2,222)($4,935)
Basic
Basic weighted average shares outstanding
647.2 606.1 595.2 
Less: participating securities(1)
0.3 0.3 0.3 
Basic weighted average common shares outstanding
646.9 605.8 594.9 
Diluted
Diluted weighted average shares outstanding
647.2 606.1 595.2 
Less: participating securities(1)
0.3 0.3 0.3 
Diluted weighted average common shares outstanding
646.9 605.8 594.9 
Net loss per share:
Basic
($18.36)($3.67)($8.30)
Diluted
(18.36)(3.67)(8.30)
(1)Participating securities include certain instruments in our deferred compensation plan.
The following table represents potential common shares that were not included in the computation of Diluted loss per share because the effect was antidilutive based on their strike price or the performance condition was not met.
(Shares in millions)
Years ended December 31,202420232022
Performance-based restricted stock units 0.4 
Performance restricted stock units
0.7  
Restricted stock units0.5 1.0 
Stock options0.8 0.8 0.8 
In addition, potential common shares of 11.6 million, 5.7 million, and 3.5 million for the years ended December 31, 2024, 2023 and 2022 were excluded from the computation of Diluted loss per share, because the effect would have been antidilutive as a result of incurring a net loss in those periods.
v3.25.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The components of Loss before income taxes were:
Years ended December 31,202420232022
U.S.($12,813)($2,512)($5,457)
Non-U.S.603 507 435 
Total($12,210)($2,005)($5,022)
Income tax (benefit)/expense consisted of the following:
Years ended December 31,202420232022
Current tax (benefit)/expense
U.S. federal($277)$9 ($58)
Non-U.S.184 179 142 
U.S. state14 19 (42)
Total current(79)207 42 
Deferred tax (benefit)/expense
U.S. federal(71)6 (62)
Non-U.S.3 5 (3)
U.S. state(234)19 54 
Total deferred(302)30 (11)
Total income tax (benefit)/expense
($381)$237 $31 
Net income tax payments/(refunds) were $187, $204 and ($1,317) in 2024, 2023 and 2022, respectively.
The following is a reconciliation of the U.S. federal statutory tax to actual income tax (benefit)/expense:
Years ended December 31,202420232022
AmountRateAmountRateAmountRate
U.S. federal statutory tax($2,564)21.0 %($421)21.0 %($1,054)21.0 %
Valuation allowance3,145 (25.8)1,150 (57.3)1,199 (23.9)
Federal audit settlement(1)
(490)4.0 
Research and development credits(409)3.3 (472)23.6 (204)4.1 
State income tax provision, net of effects on U.S. federal tax(223)1.8 (75)3.7 (90)1.8 
Tax on non-U.S. activities113 (0.9)35 (1.8)64 (1.3)
Impact of subsidiary shares purchased from noncontrolling interests
(29)1.5 
Other provision adjustments47 (0.3)49 (2.5)116 (2.3)
Income tax (benefit)/expense
($381)3.1 %$237 (11.8)%$31 (0.6)%
(1)     In the second quarter of 2024, we recorded a tax benefit of $490 related to the settlement of the 2018-2020 federal tax audit, which excludes an associated $155 valuation expense that is recorded in the Valuation allowance line.
Significant components of our deferred tax assets/(liabilities) at December 31 were as follows:
20242023
Inventory and long-term contract methods of income recognition($4,765)($5,115)
Federal net operating loss, credit, interest and other carryovers(1)
4,719 2,551 
Research expenditures3,936 2,873 
Fixed assets, intangibles and goodwill(1,526)(1,566)
State net operating loss, credit, interest and other carryovers(2)
1,353 1,137 
Other employee benefits1,049 1,162 
Pension benefits1,045 1,178 
Accrued expenses and reserves 1,029 956 
Other postretirement benefit obligations587 590 
Other473 614 
Gross deferred tax assets/(liabilities) before valuation allowance$7,900 $4,380 
Valuation allowance(7,837)(4,550)
Net deferred tax assets/(liabilities) after valuation allowance$63 ($170)
(1)     Of the deferred tax asset for federal net operating loss, credit, interest and other carryovers, $1,848 expires on or before December 31, 2044 and $2,871 may be carried over indefinitely.
(2)     Of the deferred tax asset for state net operating loss, credit, interest and other carryovers, $686 expires on or before December 31, 2044 and $667 may be carried over indefinitely.
Net deferred tax assets/(liabilities) at December 31 were as follows:
20242023
Deferred tax assets$17,991 $14,743 
Deferred tax liabilities(10,091)(10,363)
Valuation allowance(7,837)(4,550)
Net deferred tax assets/(liabilities)$63 ($170)
The Company’s deferred income tax assets of $17,991 can be used in future years to offset taxable income and reduce income taxes payable. The Company’s deferred income tax liabilities of $10,091 will partially offset deferred income tax assets and result in higher taxable income in future years and increase income taxes payable. Tax law determines whether future reversals of temporary differences will result in taxable and deductible amounts that offset each other in future years. The particular years in which temporary differences result in taxable or deductible amounts generally are determined by the timing of the recovery of the related asset or settlement of the related liability. The deferred income tax assets and liabilities relate primarily to U.S. federal and state tax jurisdictions. From a U.S. federal tax perspective, the Company generated tax net operating losses in 2021 and 2024 and interest carryovers in 2021, 2022, 2023, and 2024 that can be carried forward indefinitely and federal research and development credits that can be carried forward 20 years.
Throughout 2023 and 2024, the Company was in a three-year cumulative pre-tax loss position. For purposes of assessing the recoverability of deferred tax assets, the Company determined that it could not include future projected earnings in the analysis due to recent history of losses.
As of December 31, 2024 and 2023, the Company has recorded valuation allowances of $7,837 and $4,550 primarily for certain domestic deferred tax assets, and certain domestic net operating losses, tax credit and interest carryforwards. To measure the valuation allowance, the Company estimated in what year each of its deferred tax assets and liabilities would reverse using systematic and logical methods to estimate the reversal patterns. The valuation allowance results from not having sufficient income from deferred tax liability reversals in the appropriate future periods to support the realization of deferred tax assets.
During 2024, the Company increased the valuation allowance by $3,287, primarily due to tax credits and other carryforwards generated in 2024 that cannot be realized in 2024.
Until the Company generates sustained levels of profitability, additional valuation allowances may have to be recorded with corresponding adverse impacts on earnings and/or OCI.
In 2024, we determined that earnings from our non-U.S. subsidiaries are no longer considered to be indefinitely reinvested.
As of December 31, 2024 and 2023, the amounts accrued for the payment of income tax-related interest and penalties included in the Consolidated Statements of Financial Position were not significant. The amounts of interest included in the Consolidated Statements of Operations were not significant for 2024, 2023 and 2022.
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
202420232022
Unrecognized tax benefits – January 1$1,131 $915 $858 
Gross increases – tax positions in prior periods 38 17 
Gross decreases – tax positions in prior periods(453)(3)(51)
Gross increases – current period tax positions216 181 91 
Gross decreases – current period tax positions
Settlements
(206)
Unrecognized tax benefits – December 31$688 $1,131 $915 
As of December 31, 2024, 2023 and 2022, the total amount of unrecognized tax benefits include $651, $1,088 and $878, respectively, that would affect the effective tax rate, if recognized. As of December 31, 2024, these amounts were primarily associated with the amount of research tax credits claimed.
Federal income tax audits have been settled for all years prior to 2021. The Internal Revenue Service is expected to begin the 2021-2023 federal tax audit in the third quarter of 2025. We are also subject to examination in major state and international jurisdictions for the 2010-2023 tax years. We believe appropriate provisions for all outstanding tax issues have been made for all jurisdictions and all open years.
The Organization for Economic Co-operation and Development has introduced Pillar Two model rules, which establish a new global minimum tax of 15%. While it is unlikely that the United States will adopt these rules, certain other countries in which we operate have enacted Pillar Two legislation commencing in 2024. Since we do not have significant operations in jurisdictions with tax rates below the 15% minimum, Pillar Two has not materially increased our global tax costs in 2024 and is not expected to be material in future periods. We will continue to monitor both US and international legislative developments related to Pillar Two to assess for any potential impacts.
v3.25.0.1
Accounts Receivable, net
 12 Months Ended
Dec. 31, 2024
Accounts Receivable, after Allowance for Credit Loss [Abstract]  
Accounts Receivable, net Accounts Receivable, net
Accounts receivable, net at December 31 consisted of the following:
20242023
U.S. government contracts(1)
$923 $970 
Commercial Airplanes48 57 
Global Services(2)
1,581 1,526 
Defense, Space, & Security(2)
165 160 
Other6 25 
Less valuation allowance(92)(89)
Total$2,631 $2,649 
(1)Includes foreign military sales through the U.S. government
(2)Excludes U.S. government contracts
v3.25.0.1
Allowance for Losses on Financial Assets
 12 Months Ended
Dec. 31, 2024
Credit Loss [Abstract]  
Allowances for Losses on Financial Assets Allowances for Losses on Financial Assets
The change in allowances for expected credit losses for the years ended December 31, 2024 and 2023 consisted of the following:
Accounts receivableUnbilled receivablesOther Current AssetsFinancing receivablesOther AssetsTotal
Balance at January 1, 2023($116)($23)($85)($55)($88)($367)
Changes in estimates(6)4 30 4 (34)(2)
Write-offs29 5 34 
Recoveries4 4 
Balance at December 31, 2023($89)($19)($50)($51)($122)($331)
Balance at January 1, 2024($89)($19)($50)($51)($122)($331)
Changes in estimates(45)(19)(8)44 (85)(113)
Write-offs41 11 8 60 
Recoveries1 1 
Balance at December 31, 2024($92)($38)($47)($7)($199)($383)
v3.25.0.1
Inventories
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories at December 31 consisted of the following:
20242023
Commercial aircraft programs$75,192 $68,683 
Long-term contracts in progress752 686 
Capitalized precontract costs(1)
1,176 946 
Commercial spare parts, used aircraft, general stock materials and other10,430 9,426 
Total$87,550 $79,741 
(1)    Capitalized precontract costs at December 31, 2024 and 2023, includes amounts related to Commercial Crew, T-7A Red Hawk Production Options, and KC-46A Tanker. See Note 14.
Commercial Aircraft Programs
At December 31, 2024 and 2023, commercial aircraft programs inventory included the following amounts related to the 737 program: deferred production costs of $9,679 and $6,011 and unamortized tooling and other non-recurring costs of $909 and $792. At December 31, 2024, $10,542 of 737 deferred production costs, unamortized tooling and other non-recurring costs are expected to be recovered from units included in the program accounting quantity that have firm orders, and $46 are expected to be recovered from units included in the program accounting quantity that represent expected future orders.
At December 31, 2024 and 2023, commercial aircraft programs inventory included the following amounts related to the 777X program: $3,476 and $4,638 of work in process (including deferred production costs of $0 and $1,792) and $4,122 and $4,063 of unamortized tooling and other non-recurring costs. In April 2022, we decided to pause production of the 777X-9 during 2022 and 2023, which resulted in abnormal production costs of $513 and $325 during the years ended December 31, 2023 and 2022. In the fourth quarter of 2023, the 777X program resumed production and, as a result,
there were no abnormal production costs during the year ended December 31, 2024. During the year ended December 31, 2024, we determined that estimated costs to complete the 777X program plus the costs already included in 777X inventory exceed estimated revenues from the program. The resulting reach-forward loss of $3,499 was recorded as a reduction of deferred production costs and other non-recurring costs. The level of profitability on the 777X program will be subject to several factors. These factors include aircraft certification requirements and timing, change incorporation on completed aircraft, production disruption due to labor instability and supply chain disruption, customer considerations, delivery timing and negotiations, further production rate adjustments for the 777X or other commercial aircraft programs, and contraction of the accounting quantity. One or more of these factors could result in additional reach-forward losses in future periods.
At December 31, 2024 and 2023, commercial aircraft programs inventory included the following amounts related to the 787 program: deferred production costs of $13,178 and $12,384, supplier advances of $1,379 and $1,764, and unamortized tooling and other non-recurring costs of $1,370 and $1,480. At December 31, 2024, $11,224 of 787 deferred production costs, unamortized tooling and other non-recurring costs are expected to be recovered from units included in the program accounting quantity that have firm orders, and $3,324 are expected to be recovered from units included in the program accounting quantity that represent expected future orders. We expensed abnormal production costs of $256, $1,014, and $1,240 during the years ended December 31, 2024, 2023 and 2022.
Commercial aircraft programs inventory included amounts credited in cash or other consideration (early issue sales consideration) to airline customers totaling $5,837 and $4,126 at December 31, 2024 and 2023.
v3.25.0.1
Contracts with Customers
 12 Months Ended
Dec. 31, 2024
Contracts with Customers [Abstract]  
Contracts with Customers Contracts with Customers
Unbilled receivables increased from $8,317 at December 31, 2023, to $8,363 at December 31, 2024, primarily driven by revenue recognized in excess of billings at BDS, partially offset by an increase in billings at BGS.
The following table summarizes our contract assets under long-term contracts that were unbillable or related to outstanding claims as of December 31:
UnbilledClaims
2024202320242023
Current$6,348 $6,565 $9 $6 
Expected to be collected after one year2,053 1,771 51 40 
Less valuation allowance(38)(19)
Total$8,363 $8,317 $60 $46 
Unbilled receivables related to commercial customer incentives expected to be collected after one year were $63 and $42 at December 31, 2024 and 2023. Unbilled receivables related to claims are items that we believe are earned, but are subject to uncertainty concerning their determination or ultimate realization.
Advances and progress billings increased from $56,328 at December 31, 2023, to $60,333 at December 31, 2024, primarily driven by progress billings at BDS and advances on orders received at BCA.
Revenues recognized for the years ended December 31, 2024 and 2023, from amounts recorded as Advances and progress billings at the beginning of each year were $14,516 and $15,298
v3.25.0.1
Customer Financing
 12 Months Ended
Dec. 31, 2024
Financing Receivables and Operating Lease Equipment [Abstract]  
Financing Receivables and Operating Lease Equipment Financing Receivables and Operating Lease Equipment
Financing receivables and operating lease equipment, net consisted of the following at December 31:
20242023
Financing receivables:
Investment in sales-type leases$203 $556 
Notes85 102 
Total financing receivables288 658 
Less allowance for losses on receivables7 51 
Financing receivables, net281 607 
Operating lease equipment, at cost, less accumulated depreciation of $46 and $70
240 352 
Total$521 $959 
Our financing arrangements range in terms from 1 to 8 years, and include $196 of investment in sales-type leases, net of allowances, that will be repaid in one year or less. Financing arrangements may include options to extend or terminate. Certain leases include provisions to allow the lessee to purchase the underlying aircraft at a specified price. At December 31, 2024 and 2023, $7 and $44 were determined to be uncollectible financing receivables and placed on non-accrual status. The allowance for losses on financing receivables decreased primarily due to cash collections during the year ended December 31, 2024.
The components of investment in sales-type leases at December 31 were as follows:
20242023
Gross lease payments receivable$229 $697 
Unearned income(26)(162)
Net lease payments receivable203 535 
Unguaranteed residual assets 21 
Total$203 $556 
Financing interest income recorded for the years ended December 31, 2024 and 2023, was $7 and $108.
Financing receivables that were past due as of December 31, 2024 and 2023, totaled $0 and $9.
Our financing receivable balances at December 31, 2024, by internal credit rating category and year of origination, consisted of the following:
Rating categoriesCurrent2023202220212020PriorTotal
BBB$32 $28 $122 $5 $9 $196 
B85 85 
CCC7 7 
Total carrying value of financing receivables $32 $28 $129 $5 $94 $288 
At December 31, 2024, our allowance for losses related to receivables with ratings of CCC, B, and BBB. We applied default rates that averaged 100.0%, 0.0%, and 0.1%, respectively, to the exposure associated with those receivables.
The majority of our financing receivables and operating lease equipment portfolio is concentrated in the following aircraft models at December 31:
20242023
717 Aircraft (Accounted for as sales-type leases)
$196 $478 
777 Aircraft (Accounted for as operating leases)
183 194 
747-8 Aircraft (Primarily accounted for as notes)
92 129 
737 Aircraft (Primarily accounted for as operating leases)
47 156 
747-400 Aircraft (Accounted for as sales-type leases)
43 
Impairment charges related to operating lease assets were $5, $0, and $7 for the years ended December 31, 2024, 2023 and 2022, respectively.
Lease income recorded in Sales of services on the Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022, included $45, $55, and $69 of interest income from sales-type leases and $56, $60, and $65 from operating lease payments, respectively.
Variable lease payments for sales-type leases recognized in interest income for the years ended December 31, 2024, 2023 and 2022, were insignificant.
Profit at the commencement of sales-type leases was recorded in Sales of services for the years ended December 31, 2024, 2023 and 2022 in the amount of $9, $32, and $28, respectively.
As of December 31, 2024, undiscounted cash flows for notes receivable, sales-type and operating leases over the next five years and thereafter are as follows:
Notes receivable
Sales-type leases
Operating leases
Year 1$9 $189 $47 
Year 210 13 39 
Year 311 13 34 
Year 412 14 32 
Year 513  13 
Thereafter30   
Total financing receipts85 229 165 
Less imputed interest(26)
Total$85 $203 $165 
At December 31, 2024 and 2023, unguaranteed residual values were $0 and $21.
v3.25.0.1
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
Property, plant and equipment at December 31 consisted of the following:
20242023
Land$353 $377 
Buildings and land improvements14,985 14,795 
Machinery and equipment16,660 16,055 
Construction in progress2,339 1,679 
Gross property, plant and equipment34,337 32,906 
Less accumulated depreciation(22,925)(22,245)
Total$11,412 $10,661 
Depreciation expense was $1,349, $1,328 and $1,396 for 2024, 2023 and 2022, respectively.
During 2024 and 2023, we acquired $76 and $124 of property, plant and equipment through non-cash investing and financing transactions. Accounts payable related to purchases of property, plant and equipment were $591 and $498 for the years ended December 31, 2024 and 2023.
v3.25.0.1
Investments
 12 Months Ended
Dec. 31, 2024
Investments [Abstract]  
Investments Investments
Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following at December 31:
2024 2023
Time deposits (1)
$11,960 $2,753 
Equity method investments (2)
948 966 
Available-for-sale debt investments (1)
517 499 
Equity and other investments34 69 
Restricted cash & cash equivalents (1)(3)
21 22 
Total$13,480 $4,309 
(1)Primarily included in Short-term and other investments on our Consolidated Statements of Financial Position.
(2)Dividends received were $55 and $31 during 2024 and 2023. Retained earnings at December 31, 2024 and 2023 include undistributed earnings from our equity method investments of $141 and $110.
(3)Reflects amounts restricted in support of our workers’ compensation programs and insurance premiums.
Contributions to investments and Proceeds from investments on our Consolidated Statements of Cash Flows primarily relate to time deposits and available-for-sale debt investments. Cash used for the purchase of time deposits during 2024, 2023 and 2022, was $13,258, $15,794 and $4,358, respectively. Cash proceeds from the maturities of time deposits during 2024, 2023 and 2022 were $4,053, $15,140 and $9,943, respectively.
Allowance for losses on available-for-sale debt investments are assessed quarterly. All instruments are considered investment grade, and we have not recognized an allowance for credit losses as of December 31, 2024. Fair value of available-for-sale debt securities approximates amortized cost.
Equity Method Investments
Our equity method investments consisted of the following at December 31:
SegmentOwnership PercentagesInvestment Balance
2024 2023
United Launch Alliance
BDS
50%$557 $582 
OtherBCA, BDS, BGS and Other 391 384 
Total equity method investments$948 $966 
v3.25.0.1
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases Leases
Our operating lease assets primarily represent manufacturing and research and development facilities, warehouses and offices. Total operating lease expense was $530, $457 and $421 for the years ended December 31, 2024, 2023 and 2022, of which $75, $76 and $75 was attributable to variable lease expenses, respectively.
For the years ended December 31, 2024, 2023 and 2022, cash payments against operating lease liabilities totaled $408, $323 and $294, and non-cash transactions totaled $490, $488 and $245 to recognize operating assets and liabilities for new leases and modifications.
Supplemental information related to leases included in the Consolidated Statements of Financial Position at December 31 is as follows:
20242023
Operating leases:
Operating lease right-of-use assets$1,984$1,690
Operating lease liabilities:
Current portion of lease liabilities324296
Non-current portion of lease liabilities1,7701,518
Total operating lease liabilities$2,094$1,814
Weighted average remaining lease term (years)
1211
Weighted average discount rate3.43%3.21%
Operating lease assets are included in Other assets, net, with the related liabilities included in Accrued liabilities and Other long-term liabilities.
Scheduled payments for operating lease liabilities are as follows:
Operating leases
2025$421 
2026373 
2027318 
2028263 
2029194 
Thereafter1,285 
Total lease payments2,855 
Less imputed interest(761)
Total$2,094 
As of December 31, 2024, we have entered into leases that have not yet commenced of $15 for offices. These leases will commence in 2025 with lease terms of 3 years to 10 years.
v3.25.0.1
Liabilities, Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Liabilities, Commitments and Contingencies Liabilities, Commitments and Contingencies
Accrued Liabilities
Accrued liabilities at December 31 consisted of the following:
20242023
Forward loss recognition$7,634 $4,699 
Accrued compensation and employee benefit costs6,110 6,721 
Product warranties2,133 2,448 
Environmental834 844 
Accrued interest payable796 652 
737 MAX customer concessions and other considerations
641 1,327 
Other customer concessions and considerations1,552 1,300 
Current portion of retiree healthcare and pension liabilities452 473 
Current portion of lease liabilities324 296 
Other3,627 3,571 
Total$24,103 $22,331 
737 MAX Customer Concessions and Other Considerations
During 2024, we recorded an earnings charge of $443, net of insurance recoveries, in connection with estimated considerations to customers for disruption related to the Alaska Airlines 737-9 accident and 737-9 grounding. This charge is reflected in the financial statements as a reduction to Sales of products.
The following table summarizes changes in the 737 MAX customer concessions and other considerations liability during 2024 and 2023.
20242023
Beginning balance – January 1$1,327 $1,864 
Reductions for payments made(929)(449)
Reductions for concessions and other in-kind considerations(267)(61)
Changes in estimates510 (27)
Ending balance – December 31$641 $1,327 
At December 31, 2024, $92 of the liability balance remains subject to negotiations with customers. The contracted amount includes $124 expected to be paid in cash primarily in 2025, while the remaining amounts are primarily expected to be liquidated by lower customer delivery payments.
Environmental
The following table summarizes changes in environmental remediation liabilities during the years ended December 31, 2024 and 2023.
20242023
Beginning balance – January 1$844 $752 
Reductions for payments made, net of recoveries(120)(79)
Changes in estimates110 171 
Ending balance – December 31$834 $844 
The liabilities recorded represent our best estimate or the low end of a range of reasonably possible costs expected to be incurred to remediate sites, including operation and maintenance over periods of up to 30 years. It is reasonably possible that we may incur costs that exceed these recorded amounts because of regulatory agency orders and directives, changes in laws and/or regulations, higher than expected costs and/or the discovery of new or additional contamination. As part of our estimating process, we develop a range of reasonably possible alternate scenarios that includes the high end of a range of reasonably possible cost estimates for all remediation sites for which we have sufficient information based on our experience and existing laws and regulations. There are some potential remediation obligations where the costs of remediation cannot be reasonably estimated. At December 31, 2024 and 2023, the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $1,002 and $1,030.
Product Warranties
The following table summarizes changes in product warranty liabilities recorded during the years ended December 31, 2024 and 2023.
20242023
Beginning balance – January 1$2,448 $2,275 
Additions for current year deliveries81 164 
Reductions for payments made(392)(320)
Changes in estimates(4)329 
Ending balance – December 31$2,133 $2,448 
Commercial Aircraft Trade-In Commitments
In conjunction with signing definitive agreements for the sale of new aircraft, we have entered into trade-in commitments with certain customers that give them the right to trade in used aircraft at a specified price. The probability that trade-in commitments will be exercised is determined by using both quantitative information from valuation sources and qualitative information from other sources. The probability of exercise is assessed quarterly, or as events trigger a change, and takes into consideration the current economic and airline industry environments. Trade-in commitments, which can be terminated by mutual consent with the customer, may be exercised only during the period specified in the agreement and require advance notice by the customer.
Trade-in commitment agreements at December 31, 2024 have expiration dates from 2025 through 2031. At December 31, 2024 and 2023, total contractual trade-in commitments were $1,393 and $1,415. As of December 31, 2024 and 2023, we estimated that it was probable we would be obligated to perform on certain of these commitments with net amounts payable to customers totaling $275 and $407, and the fair value of the related trade-in aircraft was $270 and $407.
Financing Commitments
Financing commitments related to aircraft on order, including options and those proposed in sales campaigns, and refinancing of delivered aircraft, totaled $17,124 and $17,003 as of December 31, 2024 and 2023. The estimated earliest potential funding dates for these commitments as of December 31, 2024 are as follows:
Total
2025$3,449 
20263,938 
20273,735 
20282,273 
20291,773 
Thereafter1,956 
Total
$17,124 
As of December 31, 2024, $13,798 of these financing commitments relate to customers we believe have less than investment-grade credit. We have concluded that no reserve for future potential losses is required for these financing commitments based upon the terms, such as collateralization and interest rates, under which funding would be provided.
Other Financial Commitments
We have financial commitments to make additional capital contributions totaling $261 related to certain joint ventures over the next eight years.
Standby Letters of Credit and Surety Bonds
We have entered into standby letters of credit and surety bonds with financial institutions primarily relating to the guarantee of our future performance on certain contracts and security agreements. Contingent liabilities on outstanding letters of credit agreements and surety bonds aggregated approximately $2,991 and $4,548 as of December 31, 2024 and 2023.
Company Owned Life Insurance
McDonnell Douglas Corporation insured its executives with Company Owned Life Insurance (COLI), which are life insurance policies with a cash surrender value. Although we do not use COLI currently, these obligations from the merger with McDonnell Douglas are still a commitment at this time. We have loans in place to cover costs paid or incurred to carry the underlying life insurance policies. As of December 31, 2024 and 2023, the cash surrender value was $342 and $360 and the total loans were $314 and $334. As we have the right to offset the loans against the cash surrender value of the policies, we present the net asset in Other assets on the Consolidated Statements of Financial Position as of December 31, 2024 and 2023.
Supply Chain Financing Programs
The Company has supply chain financing programs in place under which participating suppliers may elect to obtain payment from an intermediary. The Company confirms the validity of invoices from participating suppliers and agrees to pay the intermediary an amount based on invoice totals. The majority of amounts payable under these programs are due within 30 to 90 days but may extend up to
12 months. The following table summarizes changes in Accounts payable to suppliers participating in supply chain financing programs:
2024
Beginning balance – January 1$2,871 
Additions12,476 
Reductions for payments made(12,644)
Ending balance – December 31$2,703 
We do not believe that future changes in the availability of supply chain financing would have a significant impact on our liquidity.
Government Assistance
Certain states and localities in which we operate offer or have offered various business incentives related to investment and/or job creation. Between 2010 and 2016, we received cash grants totaling $346 related to our investment in operations in South Carolina. The grants were recorded in Accrued liabilities and are being amortized, primarily to inventory, over the useful life of the Property, plant and equipment extending through 2052. During 2024 and 2023, we amortized $9 and $10 to Inventories, and recorded a benefit of $7 and $12 in cost of sales. At December 31, 2024 and 2023, Inventories included a benefit of $64 and $62 and Accrued liabilities included a balance of $87 and $97.
We are eligible to claim tax refunds from the State of Missouri and City of Irving, Texas primarily related to job creation and retention through 2031. During 2024, 2023, and 2022, we received $26, $22, and $30 in cash and recorded a benefit of $30, $28, and $21 in cost of sales, respectively. At December 31, 2024 and 2023, Other current assets includes receivables of $30 and $26. As of December 31, 2024, $63 of refunds, plus interest, is subject to clawback if we fail to meet certain conditions, including employment levels.
We are eligible to claim cash grants through 2032 related to operations in Queensland, Australia. During 2023 and 2022, we received cash of $5 and $7, which was recorded as a benefit in cost of sales. During 2024, we received cash of $40 to apply against future eligible expenses, which was recorded in Other long-term liabilities and is subject to clawback if we fail to meet certain conditions, including employment levels.
Industrial Revenue Bonds (IRB) issued by St. Louis County and the city of St. Charles, Missouri were used to finance the purchase and/or construction of real and personal property at our St. Louis and St. Charles sites. Tax benefits associated with IRBs include Missouri sales tax exemptions as well as 12-year property tax abatements from St. Louis County and a 22-year property tax abatement from the city of St. Charles. We record these properties on our Consolidated Statements of Financial Position. We have also purchased the IRBs, and therefore, are the bondholders as well as the borrower/lessee of the properties purchased with the IRB proceeds. The liabilities and IRB assets are equal and are reported net in the Consolidated Statements of Financial Position. As of December 31, 2024 and 2023, the assets and liabilities associated with the IRBs were $355 and $333.
Recoverable Costs on Government Contracts
Our final incurred costs for each year are subject to audit and review for allowability by the U.S. government, which can result in payment demands related to costs they believe should be disallowed. We work with the U.S. government to assess the merits of claims and where appropriate reserve for amounts disputed. If we are unable to satisfactorily resolve disputed costs, we could be required to record an earnings charge and/or provide refunds to the U.S. government. In addition, we are making
certain capital expenditures in anticipation of future contract awards that have risk for impairment if we are not selected. Total capital investment was approximately $500 at December 31, 2024.
Fixed-Price Contracts
Long-term contracts that are contracted on a fixed-price basis could result in losses in future periods. Certain of the fixed-price contracts are for the development of new products, services and related technologies. Estimating the cost and time for us and our suppliers to complete these contracts is inherently uncertain due to operational and technical complexities. This uncertainty requires us to make significant judgments and assumptions about future operational and technical performance, and the outcome of customer and/or supplier contractual negotiations. The risk that actual performance, technical or contractual outcomes could be different than those previously assumed creates financial risk that could trigger additional material earnings charges, termination provisions, order cancellations, or other financially significant exposure.
VC-25B Presidential Aircraft
The Company’s firm fixed-price contract for the Engineering and Manufacturing Development (EMD) effort on the U.S. Air Force’s (USAF) VC-25B Presidential Aircraft, commonly known as Air Force One, is a $4 billion program to develop and modify two 747-8 commercial aircraft. During 2024 and 2023, we increased the reach-forward loss on the contract by $379 and $482. During the second quarter of 2024, we increased the reach-forward loss on the contract by $250 primarily driven by higher than anticipated costs due to engineering design changes related to wiring and other structural requirements. During the fourth quarter of 2024, we increased the reach-forward loss by $129 reflecting higher estimated costs due to engineering design changes and schedule delays. Risk remains that we may record additional losses in future periods.
KC-46A Tanker
In 2011, we were awarded a contract from the USAF to design, develop, manufacture, and deliver four next generation aerial refueling tankers as well as priced options for 13 annual production lots totaling 179 aircraft. Since 2016, the USAF has authorized 11 low rate initial production (LRIP) lots for a total of 154 aircraft. The EMD contract and authorized LRIP lots total approximately $29 billion as of December 31, 2024. The KC-46A Tanker is a derivative of the 767 commercial airplane program with the majority of the manufacturing costs being incurred in the 767 factory and the remaining costs being incurred in the military finishing and delivery centers.
During 2024 and 2023, we increased the reach-forward loss on the KC-46A Tanker program by $2,002 and $309. During the first quarter of 2024, we increased the reach-forward loss by $128, primarily due to factory disruption associated with supply chain constraints. During the second quarter of 2024, we increased the reach-forward loss on the contract by $391, primarily reflecting higher than anticipated factory disruption, including supply chain constraints and parts shortages. During the third quarter of 2024, we increased the reach-forward loss on the contract by $661 to reflect higher than anticipated factory disruption, higher estimated supplier costs, the projected impacts of the International Association of Machinists and Aerospace Workers District 751 (IAM 751) contract negotiations and the ongoing work stoppage, and increased cost allocations primarily resulting from lower commercial airplane production rates. During the fourth quarter of 2024, we recorded an earnings charge of $822, primarily due to factory performance, higher estimated future production costs, and higher costs resulting from the IAM 751 work stoppage and new agreement. The fourth quarter charge also includes increased cost allocations from the decision to end production of the 767 freighter program and higher supplier costs. As of December 31, 2024, we had approximately $85 of capitalized precontract costs and $132
of potential termination liabilities to suppliers related to future production lots. Risk remains that we may record additional losses in future periods.
MQ-25
In the third quarter of 2018, we were awarded the MQ-25 EMD contract by the U.S. Navy. The contract is a fixed-price contract that now includes development and delivery of seven aircraft and test articles at a contract price of $890. In connection with winning the competition, we recognized a reach-forward loss of $291 in the third quarter of 2018. During 2023, we increased the reach-forward loss by $231. In the first quarter of 2024, we were awarded a cost-type contract modification totaling $657 for two additional test aircraft plus other scope increases. During 2024, we increased the reach-forward loss by $339. During the third quarter of 2024, we increased the reach-forward loss by $217 primarily reflecting higher than anticipated production costs to complete EMD aircraft. During the fourth quarter of 2024, we increased the reach-forward loss by $122, primarily reflecting costs associated with ongoing design and software development challenges. The initial EMD units are currently progressing through the factory and the increase reflects recent and projected factory performance as well as the higher than anticipated complexity of the production build. We expect the initial units to complete production in 2025 and begin flight testing. We will be initiating final assembly operations at our new facility at Mid-America St. Louis Airport in Mascoutah, Illinois, in 2025. Risk remains that we may record additional losses in future periods.
T-7A Red Hawk EMD Contract & Production Options
In 2018, we were awarded the T-7A Red Hawk program. The EMD portion of the contract is a $860 fixed-price contract and includes five aircraft and seven simulators. The production portion of the contract includes production lots for 346 T-7A Red Hawk aircraft and related services that we believe are probable of being exercised. The five EMD aircraft have been delivered as of December 31, 2024, and the flight testing is ongoing.
During 2024 and 2023, we increased the reach-forward loss on the T-7A Red Hawk program by $1,770 and $275. The increase in 2024 primarily reflects higher estimated supplier costs related to future production lots. During the first quarter of 2024, we increased the reach-forward loss by $94 primarily reflecting increases in production costs. During the second quarter of 2024, we increased the reach-forward loss on the program by $278 primarily driven by higher than anticipated costs to meet certain technical and support requirements. During the third quarter of 2024, we increased the loss on the program by $908 primarily to reflect higher estimated supplier costs related to future production lots. The higher estimated supplier costs were based on our updated assessment that previously assumed cost estimates are not projected to be realized in the current environment based on ongoing contracting activity and discussions with suppliers. The revised estimates include priced options or not-to-exceed pricing for contractually committed suppliers and escalated current prices for uncontracted work. We also provisioned for a supplier not fulfilling their contractual requirements, and for certain equipment no longer assumed to be customer-furnished for certain production lots. During the fourth quarter of 2024, we further increased the reach-forward loss by $490 primarily reflecting increased supplier pricing based on new pricing proposals and supplier negotiations. The fourth quarter charge also includes higher costs to complete the flight test program to achieve final certification. At December 31, 2024, we had approximately $315 of capitalized precontract costs and $632 of potential termination liabilities to suppliers related to certain long-lead items for the first 4 production lots. Risk remains that we may record additional losses in future periods.
Commercial Crew
The National Aeronautics and Space Administration has contracted us to design and build the CST-100 Starliner spacecraft to transport crews to the International Space Station (ISS) and in the second quarter of 2022, we successfully completed the uncrewed Orbital Flight Test. During 2023, we
increased the reach-forward loss by $288 primarily as a result of delaying the Crewed Flight Test (CFT) following notification by a parachute supplier of an issue identified through testing. The CFT launched on June 5, 2024, and docked with the ISS. The Starliner spacecraft had a minimum mission duration of 8 days. Its return to Earth was delayed to allow time to perform further testing of propulsion system anomalies and returned to Earth uncrewed in September 2024. During 2024, we increased the reach-forward loss by $523 primarily to reflect schedule delays and higher testing and certification costs as well as higher costs for post certification missions. At December 31, 2024, we had approximately $398 of capitalized precontract costs and $150 of potential termination liabilities to suppliers related to unauthorized future missions. Risk remains that we may record additional losses in future periods.
Severance
During the fourth quarter of 2024, we announced plans to reduce our overall workforce. As a result, we recorded $295 of severance benefits payable to employees expected to leave the Company through involuntary terminations by the first half of 2025. The severance packages are consistent with our ongoing compensation and benefits plans. The remaining liability at December 31, 2024, was $287.
v3.25.0.1
Arrangements with Off-Balance Sheet Risk
 12 Months Ended
Dec. 31, 2024
Guarantees [Abstract]  
Arrangements with Off-Balance Sheet Risk Arrangements with Off-Balance Sheet Risk
We enter into arrangements with off-balance sheet risk in the normal course of business, primarily in the form of guarantees.
The following table provides quantitative data regarding our third party guarantees. The maximum potential payments represent a “worst-case scenario” and do not necessarily reflect amounts that we expect to pay. The carrying amount of liabilities represents the amount included in Accrued liabilities.
Maximum
Potential
Payments		Estimated
Proceeds from
Collateral/
Recourse		Carrying
Amount of
Liabilities
December 31,202420232024202320242023
Contingent repurchase commitments$295 $404 $295 $404 
Credit guarantees15 15  $14 $14 
Contingent Repurchase Commitments In conjunction with signing a definitive agreement for the sale of commercial aircraft, we have entered into contingent repurchase commitments with certain customers wherein we agree to repurchase the sold aircraft at a specified price, generally 10 to 15 years after delivery. Our repurchase of the aircraft is contingent upon entering into a mutually acceptable agreement for the sale of additional new aircraft in the future. The commercial aircraft repurchase price specified in contingent repurchase commitments is generally lower than the expected fair value at the specified repurchase date. Estimated proceeds from collateral/recourse in the table above represent the lower of the contracted repurchase price or the expected fair value of each aircraft at the specified repurchase date.
If a future sale agreement is reached and a customer elects to exercise its right under a contingent repurchase commitment, the contingent repurchase commitment becomes a trade-in commitment. Our historical experience is that contingent repurchase commitments infrequently become trade-in commitments.
Credit Guarantees We have issued credit guarantees where we are obligated to make payments to a guaranteed party in the event that the original lessee or debtor does not make payments or perform certain specified services. Generally, these guarantees have been extended on behalf of guaranteed
parties with less than investment-grade credit. Current outstanding credit guarantees expire through 2036.
Other Indemnifications In conjunction with our sales of Electron Dynamic Devices, Inc. and Rocketdyne Propulsion and Power businesses and our BCA facilities in Wichita, Kansas and Tulsa and McAlester, Oklahoma, we agreed to indemnify, for an indefinite period, the buyers for costs relating to pre-closing environmental conditions and certain other items. We are unable to assess the potential number of future claims that may be asserted under these indemnifications, nor the amounts thereof (if any). As a result, we cannot estimate the maximum potential amount of future payments under these indemnities. To the extent that claims have been made under these indemnities and/or are probable and reasonably estimable, liabilities associated with these indemnities are included in the environmental liability disclosure in Note 14.
v3.25.0.1
Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt Debt
In the second quarter of 2024, we issued $10.0 billion of fixed-rate senior notes consisting of $1.0 billion due May 2027 that bear an annual interest rate of 6.259%, $1.5 billion due May 2029 that bear an annual interest rate of 6.298%, $1.0 billion due May 2031 that bear an annual interest rate of 6.388%, $2.5 billion due May 2034 that bear an annual interest rate of 6.528%, $2.5 billion due May 2054 that bear an annual interest rate of 6.858%, and $1.5 billion due May 2064 that bear an annual interest rate of 7.008%. The notes are unsecured senior obligations and rank equally in right of payment with our existing and future unsecured and unsubordinated indebtedness. The net proceeds of the issuance totaled $9.9 billion, after deducting underwriting discounts, commissions, and offering expenses.
In the second quarter of 2024, we entered into a $4.0 billion five-year revolving credit agreement expiring in May 2029. Effective as of the second quarter of 2024, we terminated the $0.8 billion 364-day revolving credit agreement expiring in August 2024, and the $3.2 billion five-year revolving credit agreement, as amended, expiring in October 2024. Our $3.0 billion three-year revolving credit agreement expiring in August 2025 and $3.0 billion five-year revolving credit agreement expiring in August 2028 each remain in effect. As of December 31, 2024, we had $10.0 billion available under credit line agreements. We continue to be in full compliance with all covenants contained in our debt and credit facility agreements.
Interest incurred, including amounts capitalized, was $2,874, $2,560 and $2,650 for the years ended December 31, 2024, 2023 and 2022, respectively. Total Company interest payments, net of amounts capitalized, were $2,440, $2,408 and $2,572 for the years ended December 31, 2024, 2023 and 2022, respectively. Interest capitalized was $149, $101, and $89 for the years ended December 31, 2024, 2023 and 2022, respectively.
Short-term debt and current portion of long-term debt at December 31 consisted of the following:

20242023
Unsecured debt$850 $5,072 
Finance lease obligations86 77 
Other notes342 55 
Total$1,278 $5,204 
Debt at December 31 consisted of the following:

20242023
Unsecured debt
1.43% - 2.50% due through 2032
$6,159 $10,135 
2.60% - 3.20% due through 2030
5,389 6,071 
3.25% - 3.90% due through 2059
9,637 9,584 
3.95% - 5.15% due through 2059
7,462 11,024 
5.71% - 6.63% due through 2060
18,987 13,015 
6.86% - 8.75% due through 2064
5,577 1,855 
Other debt and notes
Finance lease obligations due through 2044
239 253 
Other notes414 370 
Total debt$53,864 $52,307 
Scheduled principal payments for debt for the next five years are as follows:
20252026202720282029
Debt and other notes
$1,173 $8,022 $4,364 $1,800 $2,500 
Scheduled payments for finance lease obligations are as follows:
Finance lease obligations
2025$95 
202675 
202743 
202814 
20294 
Thereafter
37 
Total finance lease payments
268 
Less imputed interest
(29)
Total
$239 
v3.25.0.1
Postretirement Plans
 12 Months Ended
Dec. 31, 2024
Retirement Benefits, Description [Abstract]  
Postretirement Plans Postretirement Plans
Many of our employees have earned benefits under defined benefit pension plans. The majority of employees that had participated in defined benefit pension plans have transitioned to a company-funded defined contribution retirement savings plan.
We fund our major pension plans through trusts. Pension assets are placed in trust solely for the benefit of the plans’ participants and are structured to maintain liquidity that is sufficient to pay benefit obligations as well as to keep pace over the long-term with the growth of obligations for future benefit payments.
We also have other postretirement benefits (OPB) other than pensions which consist principally of health care coverage for eligible retirees and qualifying dependents, and to a lesser extent, life insurance to certain groups of retirees. Retiree health care is provided principally until age 65 for approximately three-fourths of those participants who are eligible for retiree health care coverage. Certain employee groups, including employees covered by most United Auto Workers bargaining agreements, are provided lifetime health care coverage.
The funded status of the plans is measured as the difference between the plan assets at fair value and the projected benefit obligation (PBO). We have recognized the aggregate of all overfunded plans in Other assets and the aggregate of all underfunded plans in either Accrued retiree health care or Accrued pension plan liability, net. The portion of the amount by which the actuarial present value of benefits included in the PBO exceeds the fair value of plan assets, payable in the next 12 months, is reflected in Accrued liabilities.
The components of net periodic benefit (income)/cost were as follows:
PensionOther Postretirement Benefits
Years ended December 31,202420232022202420232022
Service cost$5 $2 $3 $51 $49 $72 
Interest cost2,635 2,820 2,080 124 148 98 
Expected return on plan assets(3,311)(3,441)(3,789)(10)(9)(10)
Amortization of prior service credits(81)(81)(81)(11)(22)(35)
Recognized net actuarial loss/(gain)281 173 913 (176)(175)(111)
Settlement/curtailment gain(4)
Net periodic benefit (income)/cost($471)($527)($878)($22)($9)$14 
Net periodic benefit cost included in Loss from operations$5 $2 $3 $47 $62 $79 
Net periodic benefit income included in Other income, net(476)(529)(881)(73)(58)(58)
Net periodic benefit (income)/cost included in Loss before income taxes
($471)($527)($878)($26)$4 $21 
The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2024 and 2023. Benefit obligation balances presented below reflect the PBO for our pension plans and accumulated postretirement benefit obligations (APBO) for our OPB plans.
PensionOther Postretirement Benefits
2024202320242023
Change in benefit obligation
Beginning balance$54,325 $55,117 $2,651 $2,978 
Service cost5 2 51 49 
Interest cost2,635 2,820 124 148 
Amendments140   
Actuarial (gain)/loss(2,493)1,217 156 (152)
Gross benefits paid(4,173)(4,837)(336)(375)
Subsidies 8 2 
Exchange rate adjustment(18)6 (3)1 
Ending balance$50,421 $54,325 $2,651 $2,651 
Change in plan assets
Beginning balance at fair value$48,891 $49,825 $163 $140 
Actual return on plan assets738 3,756 22 23 
Plan participants’ contributions 1 4 
Benefits paid(4,034)(4,698)(3)(4)
Exchange rate adjustment(21)8  
Ending balance at fair value$45,574 $48,891 $183 $163 
Amounts recognized in Consolidated Statements of Financial Position at December 31 consist of:
Other assets$1,289 $1,219 $21 $81 
Accrued liabilities(139)(137)(313)(336)
Accrued retiree health care(2,176)(2,233)
Accrued pension plan liability, net(5,997)(6,516)
Net amount recognized($4,847)($5,434)($2,468)($2,488)
Amounts recognized in Accumulated other comprehensive loss (AOCI) at December 31 were as follows:
PensionOther Postretirement Benefits
2024202320242023
Net actuarial loss/(gain)$17,976 $18,175 ($1,534)($1,852)
Prior service credits(922)(1,143)(8)(19)
Total recognized in AOCI
$17,054 $17,032 ($1,542)($1,871)
The accumulated benefit obligation (ABO) for all pension plans was $49,889 and $53,671 at December 31, 2024 and 2023. Key information for our plans with ABO and PBO in excess of plan assets as of December 31 was as follows:
20242023
Accumulated benefit obligation$44,470 $47,665 
Fair value of plan assets38,866 41,666 
20242023
Projected benefit obligation$45,002 $48,320 
Fair value of plan assets38,866 41,666 
Assumptions
The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.
December 31,202420232022
Discount rate:
Pension5.60 %5.10 %5.40 %
Other postretirement benefits5.40 %5.00 %5.30 %
Expected return on plan assets6.00 %6.00 %6.00 %
Rate of compensation increase4.30 %4.30 %4.30 %
Interest crediting rates for cash balance plans5.00 %5.00 %5.00 %
The discount rate for each plan is determined based on the plans’ expected future benefit payments using a yield curve developed from high quality bonds that are rated as Aa or better by at least half of the four rating agencies utilized as of the measurement date. The yield curve is fitted to yields developed from bonds at various maturity points. Bonds with the ten percent highest and the ten percent lowest yields are omitted. The present value of each plan’s benefits is calculated by applying the discount rates to projected benefit cash flows.
The pension fund’s expected return on plan assets assumption is derived from a review of actual historical returns achieved by the pension trust and anticipated future long-term performance of individual asset classes. While consideration is given to historical returns, the assumption represents a long-term, prospective return. The expected return on plan assets component of the net periodic benefit cost for the upcoming plan year is determined based on the expected return on plan assets assumption and the market-related value of plan assets (MRVA). Since our adoption of the accounting standard for pensions in 1987, we have determined the MRVA based on a five-year moving average of plan assets. As of December 31, 2024, the MRVA was approximately $7,955 more than the fair market value of assets.
Assumed health care cost trend rates were as follows:
December 31,202420232022
Health care cost trend rate assumed next year6.00 %5.50 %5.50 %
Ultimate trend rate4.50 %4.50 %4.50 %
Year that trend reaches ultimate rate203120282028
Plan Assets
Investment Strategy The overall objective of our pension assets is to earn a rate of return over time to satisfy the benefit obligations of the pension plans and to maintain sufficient liquidity to pay benefits and address other cash requirements of the pension fund. Specific investment objectives for our long-term investment strategy include reducing the volatility of pension assets relative to pension liabilities, achieving a competitive total investment return, achieving diversification between and within asset classes and managing other risks. Investment objectives for each asset class are determined based on specific risks and investment opportunities identified.
We periodically update our long-term, strategic asset allocations. We use various analytics to determine the optimal asset mix and consider plan liability characteristics, liquidity characteristics, funding requirements, expected rates of return and the distribution of returns. A key element of our strategy is to de-risk the plan as the funded status of the plan increases. We identify investment benchmarks to evaluate performance for the asset classes in the strategic asset allocation that are market-based and investable where possible. Actual allocations to each asset class vary from target allocations due to periodic investment strategy changes, market value fluctuations, the duration to fully implement investment allocation positions, and the timing of benefit payments and contributions. Short-term investments and exchange-traded derivatives are used to rebalance the actual asset allocation to the target asset allocation. The asset allocation is monitored and adjusted in accordance with our rebalancing policy. The actual and target allocations by asset class for the pension assets at December 31 were as follows:
Actual AllocationsTarget Allocations
Asset Class2024202320242023
Fixed income59 %60 %59 %59 %
Global equity19 19 20 20 
Private equity9 8 7 7 
Real estate and real assets7 7 7 7 
Hedge funds6 6 7 7 
Total100 %100 %100 %100 %
Fixed income securities are invested primarily in a diversified portfolio of long duration instruments as well as Emerging Market, Structured, High Yield and Private Debt. Global equity securities are invested in a diversified portfolio of U.S. and non-U.S. companies, across various industries and market capitalizations.
Private equity investment vehicles are primarily limited partnerships (LPs) that mainly invest in U.S. and non-U.S. leveraged buyout, venture capital, growth and special situation strategies. Real estate and real assets include global private investments that may be held through investments in LPs or other fund structures. Real estate includes, but is not limited to, investments in office, retail, apartment and industrial properties. Real assets include, but are not limited to, investments in natural resources (such as energy, farmland and timber), commodities and infrastructure.
Hedge fund investments seek to capitalize on inefficiencies identified across and within different asset classes or markets. Hedge fund strategy types include, but are not limited to, directional, event driven, relative value and long-short.
Investment managers are retained for explicit investment roles specified by contractual investment guidelines. Certain investment managers are authorized to use derivatives, such as equity or bond futures, swaps, options and currency futures or forwards. Derivatives are used to achieve the desired market exposure of a security or an index, transfer value-added performance between asset classes,
achieve the desired currency exposure, adjust portfolio duration or rebalance the total portfolio to the target asset allocation.
As a percentage of total pension assets, derivative net notional amounts were 42.0% and 38.3% for fixed income, including to-be-announced mortgage-backed securities and treasury forwards, and 0.8% and 2.1% for global equity and commodities at December 31, 2024 and 2023.
Risk Management In managing the pension assets, we review and manage risk associated with funded status risk, interest rate risk, market risk, counterparty risk, liquidity risk and operational risk. Liability matching and asset class diversification are central to our risk management approach and are integral to the overall investment strategy. Further, asset classes are constructed to achieve diversification by investment strategy, by investment manager, by industry or sector and by holding. Investment manager guidelines for publicly traded assets are specified and are monitored regularly through the custodian. Credit parameters for counterparties have been established for managers permitted to trade over-the-counter derivatives. Valuation is governed through several types of procedures, including reviews of manager valuation policies, custodian valuation processes, pricing vendor practices, pricing reconciliation and periodic, security-specific valuation testing.
Fair Value Measurements The following table presents our plan assets using the fair value hierarchy as of December 31, 2024 and 2023. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant unobservable inputs.
December 31, 2024December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Fixed income securities:
Corporate$16,322 $16,288 $34 $17,809 $17,750 $59 
U.S. government and agencies
5,182 5,182 6,822 6,822 
Mortgage backed and asset backed
783 611 172 505 344 161 
Municipal613 613 816 816 
Sovereign924 923 1 720 720 
Other 5 $2 3 9 $6 3 
Derivatives:
Assets69 69 
Liabilities(194)(194)
Cash equivalents and other short-term investments
650 646 4 326 326 
Equity securities:
U.S. common and preferred stock
3,645 3,645 3,391 3,391 
Non-U.S. common and preferred stock
2,530 2,530 2,204 2,204 
Boeing company stock
Derivatives:
Assets
Liabilities
Private equity
Real estate and real assets:
Real estate
Real assets389 348 39 2 385 349 33 3 
Derivatives:
Assets1 1 
Liabilities
Total$30,850 $6,525 $24,112 $213 $33,056 $5,950 $26,880 $226 
Fixed income common/collective/pooled funds$1,309 $1,378 
Fixed income other1,364 1,364 
Equity common/collective/ pooled funds2,385 2,702 
Private equity3,919 4,102 
Real estate and real assets2,925 3,138 
Hedge funds2,608 2,751 
Total investments measured at NAV as a practical expedient$14,510 $15,435 
Cash$265 $86 
Receivables382 438 
Payables(433)(124)   
Total$45,574 $48,891 
Fixed income securities are primarily valued upon a market approach, using matrix pricing and considering a security’s relationship to other securities for which quoted prices in an active market may be available, or an income approach, converting future cash flows to a single present value amount.
Inputs used in developing fair value estimates include reported trades, broker quotes, benchmark yields and base spreads.
Common/collective/pooled funds are typically common or collective trusts valued at their net asset values (NAVs) that are calculated by the investment manager or sponsor of the fund and have daily or monthly liquidity.
Derivatives included in the table above are over-the-counter and are primarily valued using an income approach with inputs that include benchmark yields, swap curves, cash flow analysis, rating agency data and inter-dealer broker rates. Exchange-traded derivative positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table.
Cash equivalents and other short-term investments (which are used to pay benefits) are held in a separate account which consists of a commingled fund (with daily liquidity) and separately held short-term securities and cash equivalents. All investments in this cash vehicle are valued daily using a market approach with inputs that include quoted market prices for similar instruments. In the event a market price is not available for instruments with an original maturity of one year or less, amortized cost is used as a proxy for fair value. Common and preferred stock equity securities are primarily valued using a market approach based on the quoted market prices of identical instruments.
Private equity and private debt NAV valuations are based on the valuation of the underlying investments, which include inputs such as cost, operating results, discounted future cash flows and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs), we use NAVs adjusted for subsequent cash flows and significant events.
Real estate and real asset NAVs are based on the valuation of the underlying investments, which include inputs such as cost, discounted future cash flows, independent appraisals and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs), NAVs are adjusted for subsequent cash flows and significant events. Publicly traded infrastructure stocks are valued using a market approach based on quoted market prices of identical instruments. Exchange-traded commodities futures positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table.
Hedge fund NAVs are generally based on the valuation of the underlying investments. This is primarily done by applying a market or income valuation methodology depending on the specific type of security or instrument held.
Investments in private equity, private debt, real estate, real assets and hedge funds are primarily calculated and reported by the General Partner, fund manager or third-party administrator. Additionally, some investments in fixed income and equity are made via commingled vehicles and are valued in a similar fashion. Pension assets invested in commingled and LP structures rely on the NAV of these investments as the practical expedient for the valuations.
The following tables summarizes the changes of Level 3 assets, reconciled by asset class, held during the years ended December 31, 2024 and 2023. Transfers into and out of Level 3 are reported at the beginning-of-year values.
January 1
2024 Balance
Net Realized and Unrealized (Losses)/Gains
Net Purchases, Issuances and SettlementsNet Transfers Into/(Out of) Level 3December 31
2024 Balance
Fixed income securities:
Corporate
$59 ($3)($22)$34 
Mortgage backed and
   asset backed
161 2 5 $4 172 
Other3 (3) 
Sovereign 1 1 
Cash equivalents and other short-term investments 4 4 
Equity securities:
Non-U.S. common and
   preferred stock		 1 (1)
Real assets3 (2)1 2 
Total$226 ($3)($15)$5 $213 
January 1
2023 Balance		Net Realized and Unrealized Gains/(Losses)Net Purchases, Issuances and SettlementsNet Transfers Into/(Out of) Level 3December 31
2023 Balance
Fixed income securities:
  Corporate
$70 $5 ($16)$59 
U.S. government and agencies
(1)$1 
Mortgage backed and asset backed
162 7 10 (18)161 
Municipal32 (5)(27)
Other3 3 
Real assets4 (1)3 
Total$268 $14 ($12)($44)$226 
For the year ended December 31, 2024, the changes in unrealized (losses)/gains for Level 3 assets still held at December 31, 2024 were ($7) for corporate fixed income securities, and $1 for mortgage backed and asset backed fixed income securities. For the year ended December 31, 2023, the changes in unrealized gains for Level 3 assets still held at December 31, 2023 were $2 for corporate fixed income securities, $6 for mortgage backed and asset backed fixed income securities, and $3 for other fixed income securities.
OPB Plan Assets The majority of OPB plan assets are invested in two commingled index funds (with daily liquidity) which are held at a target allocation of approximately 60% in the equity fund and 40% in the debt fund. The commingled funds are valued daily at their NAVs which are calculated by the
investment manager. The expected rate of return on these assets does not have a material effect on the net periodic benefit cost.
Cash Flows
Contributions Required pension contributions under the Employee Retirement Income Security Act (ERISA), as well as rules governing funding of our non-US pension plans, are not expected to be significant in 2025. We do not expect to make discretionary contributions to our pension plans in 2025.
Estimated Future Benefit Payments The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only.
Year(s)202520262027202820292030-2034
Pensions$4,702 $4,427 $4,302 $4,198 $4,077 $18,628 
Other postretirement benefits:
Gross benefits paid331 315 292 267 276 1,063 
Subsidies
(9)(9)(9)(9)(9)(40)
Net other postretirement benefits$322 $306 $283 $258 $267 $1,023 
Termination Provisions
Certain of the pension plans provide that, in the event there is a change in control of the Company which is not approved by the Board of Directors and the plans are terminated within five years thereafter, the assets in the plan first will be used to provide the level of retirement benefits required by ERISA, and then any surplus will be used to fund a trust to continue present and future payments under the postretirement medical and life insurance benefits in our group insurance benefit programs.
Should we terminate certain pension plans under conditions in which the plan’s assets exceed that plan’s obligations, the U.S. government will be entitled to a fair allocation of any of the plan’s assets based on plan contributions that were reimbursed under U.S. government contracts.
Defined Contribution Plans
We provide certain defined contribution plans to all eligible employees. The principal plans are the Company-sponsored 401(k) plans. The expense for these defined contribution plans was $1,670, $1,564 and $1,260 in 2024, 2023 and 2022, respectively.
v3.25.0.1
Share-Based Compensation and Other Compensation Arrangements
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation and Other Compensation Arrangements Share-Based Compensation and Other Compensation Arrangements
Share-Based Compensation
Our 2023 Incentive Stock Plan, permits awards of incentive and non-qualified stock options, stock appreciation rights, restricted stock or units, performance restricted stock or units, and other stock and cash-based awards to our employees, officers, directors, consultants, and independent contractors. The aggregate number of shares of our common stock authorized for issuance under the plan is 12,900,000, plus shares that remained or became available under our 2003 Incentive Stock Plan, as amended and restated. Following approval of our 2023 Incentive Stock Plan in 2023, no further awards have been or may be granted under our 2003 Incentive Stock Plan.
Shares issued under the 2023 Incentive Stock Plan will be funded out of treasury shares, except to the extent there are insufficient treasury shares, in which case new shares will be issued. We believe we currently have adequate treasury shares to satisfy these issuances during 2025.
Share-based plans expense is primarily included in Total costs and expenses and General and administrative expense, as well as a portion allocated to production as inventoried costs. The share-based plans expense and related income tax benefit were as follows:
Years ended December 31,202420232022
Restricted stock units and other awards$409 $697 $726 
Income tax benefit (before consideration of valuation allowance)$107 $157 $178 
Stock Options
Options have been granted to our executive officers that are generally scheduled to vest and become exercisable three years after the grant date and expire ten years after the grant date. If an executive terminates employment because of retirement, layoff, disability, or death, the executive (or beneficiary) may remain eligible to exercise some or all of their stock options depending on certain age and service conditions. The fair values of the stock options granted were estimated using a Monte-Carlo simulation model using the assumptions presented below. The model includes no expected dividend yield.
Stock options granted during 2024 and 2023 were not material.
In February 2022, we granted 348,769 premium-priced stock options to our executive officers as part of our long-term incentive program. These stock options have an exercise price equal to 120% of the fair market value of our stock on the date of grant. If certain performance measures are met, the exercise price is reduced to 110% of the grant date fair market value of our stock.
Grant YearGrant DateExpected LifeExpected VolatilityRisk Free Interest RateGrant Date Fair Value Per Option
20222/16/20226.8 years36.6 %2.0 %$83.04 
Stock option activity for the year ended December 31, 2024 was as follows:
SharesWeighted Average Exercise Price Per OptionWeighted Average Remaining Contractual Life (Years)Aggregate Intrinsic Value
Number of shares under option:
Outstanding at beginning of year792,662$252.35 
Granted124,374200.83 
Exercised(1,953)124.98 
Forfeited(11,084)233.75 
Outstanding at end of year903,999$245.76 6.9$0 
Exercisable at end of year425,705$250.10 6.0$0 
The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022 was $0, $80 and $75, with a related tax benefit of $0, $18 and $17, respectively. At December 31, 2024, there was $9 of total unrecognized compensation cost related to options which is expected to be recognized over a weighted average period of 3.1 years. The fair value of options vested during the year ended December 31, 2024, was $32. No options vested during the years ended December 31, 2023 and 2022.
Restricted Stock Units
In February 2024, 2023 and 2022, we granted to our executives 2,008,499, 327,523 and 1,804,541 restricted stock units (RSUs) as part of our long-term incentive program with grant date fair values of $204.15, $214.35 and $217.48 per unit, respectively. In March 2024, we granted to our executive officers 125,432 RSUs with a grant date fair value of $192.94 per unit as part of our long-term incentive program. In July 2022, we granted 2,568,112 RSUs with a grant date fair value of $157.69 per unit as part of our long-term incentive program, accelerating awards planned for 2023 to retain executives. The RSUs granted under this program are generally scheduled to vest and settle in common stock (on a one-for-one basis) on the third anniversary of the grant date. If an executive terminates employment because of retirement, layoff, disability, or death, the executive (or beneficiary) may receive some or all of their stock units depending on certain age and service conditions. In all other cases, the RSUs will not vest and all rights to the stock units will terminate. These RSUs are labeled executive long-term incentive program in the table below.
In addition to RSUs awarded under our long-term incentive programs, we granted RSUs to certain executives and employees. These RSUs are labeled other RSUs in the table below.
The fair values of all RSUs are estimated using the average of the high and low stock prices on the date of grant.
RSU activity for the year ended December 31, 2024 was as follows:
Long-Term Incentive Program
Other
Number of units:
Outstanding at beginning of year5,349,490 765,510 
Granted2,174,064 176,483 
Forfeited(312,242)(28,197)
Distributed(870,741)(348,366)
Outstanding at end of year6,340,571 565,430 
Undistributed vested units897,643 33,550 
Unrecognized compensation cost$353$37
Weighted average remaining amortization period (years)
1.71.6
Performance Restricted Stock Units
In March 2024 and February 2023, we granted 153,306 and 199,899 performance restricted stock units (PRSUs) to our executive officers as part of our long-term incentive program that will result in that number of PRSUs being paid out if the target performance metric is achieved. The PRSUs granted under this program have grant date fair values of $192.94 and $214.35 per unit. The award payout can range from 0% to 200% of the initial PRSU grant based on cumulative free cash flow achievement over a three-year period from January 1 of the grant year as compared to the target set at the start of the performance period. The PRSUs granted in 2024 also include a product safety downward modifier pursuant to which the payout following the end of the three-year performance period may be reduced by 25% or down to 0% if two specified product safety operational goals are not timely completed. The PRSUs granted under this program will vest at the payout amount determined on the third anniversary of the grant date and settle in common stock (on a one-for-one basis). If an executive terminates employment because of retirement, layoff, disability, or death, the executive (or beneficiary) remains eligible under the award and, if the award is earned, may receive some or all of their stock units depending on certain age and service conditions. In all other cases, the PRSUs will not vest and all rights to the stock units will terminate. During the year ended December 31, 2024, there were 40,042 forfeitures and no distributions. At December 31, 2024, there was no unrecognized compensation cost.
Performance-Based Restricted Stock Units
Performance-Based Restricted Stock Units (PBRSUs) are stock units that pay out based on the Company’s total shareholder return (TSR) as compared to a group of peer companies over a three-year period. The award payout can range from 0% to 200% of the initial PBRSU grant. During 2023, these performance awards expired with a payout of 0%. No units were outstanding during 2024.
Employee Stock Purchase Plan
The Company has an employee stock purchase plan which permits eligible employees to purchase Boeing common stock at 95% of the fair market value on the last trading day of each three-month period using payroll deduction. The aggregate number of shares of our common stock authorized for issuance under the plan is 12,000,000. During 2024, approximately 377,712 shares were purchased at an average price of $179.03 per share.
Deferred Compensation
The Company has deferred compensation plans which permit certain employees and executives to defer a portion of their salary, bonus, certain other incentive awards and retirement contributions. Participants can diversify these amounts among 23 investment funds including a Boeing stock unit account.
Total expense/(income) related to deferred compensation was $114, $188 and ($117) in 2024, 2023 and 2022, respectively. As of December 31, 2024 and 2023, the deferred compensation liability which is being marked to market was $1,675 and $1,640.
v3.25.0.1
Shareholders' Equity
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Equity
As of December 31, 2024 and 2023, there were 1,200,000,000 shares of common stock and 20,000,000 shares of preferred stock authorized.
Changes in Share Balances
The following table shows changes in each class of shares:
Common
stock
Treasury
stock
Mandatory convertible preferred stock
Balance at January 1, 20221,012,261,159 423,343,707  
Issued(8,877,047) 
Acquired204,723  
Balance at December 31, 20221,012,261,159 414,671,383  
Issued(13,651,201) 
Acquired1,725,954  
Balance at December 31, 20231,012,261,159 402,746,136  
Issued(140,120,845)5,750,000 
Acquired419,549  
Balance at December 31, 20241,012,261,159 263,044,840 5,750,000 
Treasury Stock
On October 30, 2024, we issued 129,375,000 shares of common stock, $5.00 par value per share, from shares held in Treasury Stock. As a result of the transaction, we received cash proceeds of $18,181, net of underwriting fees and other issuance costs.
Mandatory Convertible Preferred Stock
On October 31, 2024, we issued 115,000,000 depositary shares, representing 5,750,000 shares of our 6.00% Series A Mandatory Convertible Preferred Stock (Mandatory convertible preferred stock). The Mandatory convertible preferred stock has a $1,000.00 per share liquidation preference and $1.00 per share par value. As a result of the transaction, we received cash proceeds of $5,651, net of underwriting fees and other issuance costs.
Dividends are cumulative at an annual rate of 6.00% on the liquidation preference of $1,000.00 per share of Mandatory convertible preferred stock and may be paid in cash, shares of our common stock or a combination of cash and shares of our common stock. Dividends that are declared will be payable on January 15, April 15, July 15 and October 15 to holders of record on the January 1, April 1, July 1, and October 1 immediately preceding the relevant dividend payment date. In December 2024, dividends of $72 were declared to holders of record as of January 1, 2025, representing $12.50 per share, and were paid in cash on January 15, 2025.
The following table illustrates the conversion rate per share of Mandatory convertible preferred stock, subject to certain anti-dilution adjustments, based on the applicable market value of the common stock:
Applicable Market Value of Common StockConversion Rate per Share of Mandatory Convertible Preferred Stock
Greater than $171.5854
5.8280 shares of common stock
Equal to or less than $171.5854 but greater than or equal to $142.9797
Between 5.8280 and 6.9940 shares of common stock, determined by dividing $1,000 by the applicable market value
Less than $142.9797
6.9940 shares of common stock
Unless earlier converted, each share of Mandatory convertible preferred stock will automatically convert on October 15, 2027, into between 5.8280 shares and 6.9940 shares of our common stock, depending on the applicable market value of the common stock and subject to certain anti-dilution adjustments described in the certificate of designations related to our Mandatory convertible preferred stock (Certificate of Designations). The applicable market value of our common stock will be determined based on the average volume-weighted average price per share of the common stock over the 20 consecutive trading day period beginning on, and including, the 21st scheduled trading day immediately prior to October 15, 2027.
If a fundamental change, as defined in the Certificate of Designations, occurs on or prior to October 15, 2027, then holders of Mandatory convertible preferred stock will be entitled to convert all or any portion of their shares into shares of our common stock at the fundamental change conversion rate, as defined in the Certificate of Designations, for a specified period of time and also to receive an amount to compensate such holders for unpaid accumulated dividends and any remaining future scheduled dividend payments.
Other than during a fundamental change conversion period, at any time prior to October 15, 2027, holders of Mandatory convertible preferred stock may elect to convert all or any portion of their shares at a conversion rate of 5.8280 shares of common stock per share of Mandatory convertible preferred stock, subject to certain anti-dilution and other adjustments as described in the Certificate of Designations.
Additional Paid-in Capital
During the year ended December 31, 2023, Additional paid-in capital included a decrease of $267 related to a non-cash transaction to purchase shares in a consolidated subsidiary from the noncontrolling interests.
Accumulated Other Comprehensive Loss
Changes in AOCI by component for the years ended December 31, 2024, 2023 and 2022 were as follows:
Currency Translation AdjustmentsUnrealized Gains and Losses on Certain Investments
Unrealized Gains and Losses on Derivative Instruments
Defined Benefit Pension Plans & Other Postretirement Benefits
Total (1)
Balance at January 1, 2022($105)$1 $6 ($11,561)($11,659)
Other comprehensive (loss)/income before reclassifications
(62)(1)(40)1,529 
(2)
1,426 
Amounts reclassified from AOCI
10 
(4)
673 
(3)
683 
Net current period Other comprehensive (loss)/income
(62)(1)(30)2,202 2,109 
Balance at December 31, 2022($167) ($24)($9,359)($9,550)
Other comprehensive income/(loss) before reclassifications
33 2 41 (722)
(2)
(646)
Amounts reclassified from AOCI(5)(104)
(3)
(109)
Net current period Other comprehensive income/(loss)
33 2 36 (826)(755)
Balance at December 31, 2023($134)$2 $12 ($10,185)($10,305)
Other comprehensive loss before reclassifications
(44)(258)(356)
(5)
(658)
Amounts reclassified from AOCI
35 13 48 
Net current period Other comprehensive loss
(44)(223)(343)(610)
Balance at December 31, 2024($178)$2 ($211)($10,528)($10,915)
(1)    Net of tax.
(2)    Primarily related to remeasurement of assets and benefit obligations related to the Company's pension and other postretirement benefit plans resulting in an actuarial (loss)/gain of ($722) and $1,533 (net of tax of $13 and ($22)) for the years ended December 31, 2023 and 2022. See Note 17.
(3)    Amounts reclassified from AOCI for the year ended December 31, 2023, primarily related to amortization of prior service credits totaling ($102) (net of tax of $1). Amounts reclassified from AOCI for the year ended December 31, 2022, primarily related to amortization of actuarial losses totaling $791 (net of tax of ($11)). These are included in net periodic pension cost. See Note 17.
(4)    Includes losses of $39 (net of tax of ($11)) from cash flow hedges reclassified to Other income, net because the forecasted transactions are not probable of occurring.
(5)    Primarily related to remeasurement of assets and benefit obligations related to the Company's pension and other postretirement benefit plans resulting in an actuarial loss of ($225) (net of tax of ($1)) and prior service credits of ($140) (net of tax of $0) for the year ended December 31, 2024. See Note 17.
v3.25.0.1
Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2024
Summary of Derivative Instruments [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
Cash Flow Hedges
Our cash flow hedges include foreign currency forward contracts, commodity swaps and commodity purchase contracts. We use foreign currency forward contracts to manage currency risk associated with certain expected sales and purchases through 2031. We use commodity derivatives, such as fixed-
price purchase commitments and swaps to hedge against potentially unfavorable price changes for commodities used in production. Our commodity contracts hedge forecasted transactions through 2028.
Derivative Instruments Not Receiving Hedge Accounting Treatment
We have entered into agreements to purchase and sell aluminum to address long-term strategic sourcing objectives and non-U.S. business requirements. These agreements are derivative instruments for accounting purposes. The quantities of aluminum in these agreements offset and are priced at prevailing market prices. We also hold certain foreign currency forward contracts and commodity swaps which do not qualify for hedge accounting treatment.
Notional Amounts and Fair Values
The notional amounts and fair values of derivative instruments in the Consolidated Statements of Financial Position as of December 31 were as follows:
Notional
 amounts(1)
Other assetsAccrued
liabilities
202420232024202320242023
Derivatives designated as hedging instruments:
Foreign exchange contracts$5,139 $4,120 $23 $85 ($213)($63)
Commodity contracts388 514 65 83 (12)(8)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts103 254 1 1 (17)(32)
Commodity contracts129 115  (2)
Total derivatives$5,759 $5,003 89 169 (242)(105)
Netting arrangements(24)(47)24 47 
Net recorded balance$65 $122 ($218)($58)
(1)Notional amounts represent the gross contract/notional amount of the derivatives outstanding.
(Losses)/gains associated with our hedging transactions and forward points recognized in Other comprehensive income are presented in the following table:
Years ended December 31, 202420232022
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts($248)$61 ($118)
Commodity contracts(10)(20)78 
(Losses)/gains associated with our hedging transactions and forward points reclassified from AOCI to earnings are presented in the following table:
Years ended December 31,202420232022
Foreign exchange contracts
Revenues($1)$1 
Costs and expenses(25)($15)7 
General and administrative(8)(17)(12)
Commodity contracts
Costs and expenses($7)$31 $31 
General and administrative expense6 7 10 
During the year ended December 31, 2022, we reclassified losses associated with certain cash flow hedges of $50 from AOCI to Other income, net because it became probable the forecasted transactions would not occur. Gains/(losses) related to undesignated derivatives on foreign exchange and commodity cash flow hedging transactions recognized in Other income, net were insignificant for the years ended December 31, 2024, 2023 and 2022.
Based on our portfolio of cash flow hedges, we expect to reclassify losses of $64 (pre-tax) out of AOCI into earnings during the next 12 months.
We have derivative instruments with credit-risk-related contingent features. If we default on our five-year credit facility, our derivative counterparties could require settlement for foreign exchange and certain commodity contracts with original maturities of at least five years. The fair value of those contracts in a net liability position at December 31, 2024 was $22. For other particular commodity contracts, our counterparties could require collateral posted in an amount determined by our credit ratings. At December 31, 2024, there was no collateral posted related to our derivatives.
v3.25.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant unobservable inputs. The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy.
December 31, 2024December 31, 2023
TotalLevel 1Level 2TotalLevel 1Level 2
Assets
Money market funds$6,475 $6,475 $1,514 $1,514 
Available-for-sale debt investments:
Commercial paper165 $165 291 $291 
Corporate notes335 335 183 183 
U.S. government agencies17 17 25 25 
Other equity investments9 9 44 44 
Derivatives65 65 122 122 
Total assets$7,066 $6,484 $582 $2,179 $1,558 $621 
Liabilities
Derivatives($218)($218)($58)($58)
Total liabilities($218)($218)($58)($58)
Money market funds, available-for-sale debt investments and equity investments are valued using a market approach based on the quoted market prices or broker/dealer quotes of identical or comparable instruments.
Derivatives include foreign currency and commodity contracts. Our foreign currency forward contracts are valued using an income approach based on the present value of the forward rate less the contract rate multiplied by the notional amount. Commodity derivatives are valued using an income approach based on the present value of the commodity index prices less the contract rate multiplied by the notional amount.
Certain assets have been measured at fair value on a nonrecurring basis. The following table presents the nonrecurring losses recognized for the years ended December 31 due to long-lived asset impairment and the fair value of the related assets as of the impairment date:
20242023
Fair Value
Total Losses
Fair Value
Total Losses
Property, plant and equipment$32 ($54)$14 ($26)
Investments (32) (18)
Other assets
6 (21) (2)
Operating lease equipment
15 (5) 
Total$53 ($112)$14 ($46)
Level 2 and Level 3 Property, plant and equipment were valued based on third-party valuations using a combination of income and market approaches and adjusted for as-is condition. Level 3 Investments and Other assets were primarily valued using an income approach based on the discounted cash flows associated with the underlying assets. These approaches are considered estimates of net operating income, capitalization rates, and/or comparable property sales. Level 3 operating lease equipment is derived by calculating a median collateral value from a consistent group of third-party aircraft value publications. The values provided by the third-party aircraft publications are derived from their knowledge of market trades and other market factors. Management reviews the publications quarterly to assess the continued appropriateness and consistency with market trends. Under certain circumstances, we adjust values based on the attributes and condition of the specific aircraft or equipment, usually when the features or use of the aircraft vary significantly from the more generic aircraft attributes covered by third-party publications, or on the expected net sales price for the aircraft.
For Level 3 operating lease equipment that were measured at fair value on a nonrecurring basis during the period ended December 31, 2024, the following table presents the fair value of those assets as of the measurement date, valuation techniques and related unobservable inputs of those assets.
Fair
Value
Valuation
Technique
Unobservable InputRange
Median or Average
Operating lease equipment
$15Market approachAircraft value publications
$21 - $27(1)
Median $23
Aircraft condition adjustments
($8) - $0(2)
Net ($8)
(1)The range represents the sum of the highest and lowest values for all aircraft subject to fair value measurement, according to the third-party aircraft valuation publications that we use in our valuation process.
(2)The negative amount represents the sum, for all aircraft subject to fair value measurement, of all downward adjustments based on consideration of individual aircraft attributes and condition.
Fair Value Disclosures
The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the Consolidated Statements of Financial Position at December 31 were as follows:
December 31, 2024
Carrying AmountTotal Fair ValueLevel 1Level 2Level 3
Assets
Notes receivable, net$940 $953 $941 $12 
Liabilities
Debt, excluding finance lease obligations(53,625)(51,089)(51,089)
December 31, 2023
Carrying AmountTotal Fair ValueLevel 1Level 2Level 3
Assets
Notes receivable, net$257 $270 $270 
Liabilities
Debt, excluding finance lease obligations(52,055)(51,039)(51,039)
The fair value of Notes receivable classified as Level 2 is estimated with discounted cash flow analysis using interest rates currently offered on loans with similar terms to borrowers of similar credit quality. The fair value of Notes receivable classified as Level 3 is based on our best estimate using available counterparty financial data. The fair value of our debt that is traded in the secondary market is classified as Level 2 and is based on current market yields. For our debt that is not traded in the secondary market, the fair value is classified as Level 2 and is based on our indicative borrowing cost derived from dealer quotes or discounted cash flows. With regard to other financial instruments with off-balance sheet risk, it is not practicable to estimate the fair value of our indemnifications and financing commitments because the amount and timing of those arrangements are uncertain. Items not included in the above disclosures include cash, restricted cash, time deposits and other deposits, Accounts receivable, Unbilled receivables, Other current assets, Accounts payable and long-term payables. The carrying values of those items, as reflected in the Consolidated Statements of Financial Position, approximate their fair value at December 31, 2024 and 2023. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 2 inputs, with the exception of cash (Level 1).
v3.25.0.1
Legal Proceedings
 12 Months Ended
Dec. 31, 2024
Loss Contingency, Information about Litigation Matters [Abstract]  
Legal Proceedings Legal Proceedings
Various legal proceedings, claims and investigations related to products, contracts, employment, securities and other matters are pending against us. In addition, we are subject to various government inquiries and investigations from which civil, criminal or administrative proceedings could result or have resulted in the past. Such proceedings involve or could involve claims by the government for fines, penalties, compensatory and treble damages, restitution and/or forfeitures. Under U.S. government regulations, a company, or one or more of its operating divisions or subdivisions, can also be suspended or debarred from government contracts, have certain of its production certificates suspended or revoked, or lose its export privileges, based on the results of investigations. We believe, based upon current information, that the outcome of any currently pending legal proceeding, claim, or government dispute, inquiry or investigation will not have a material effect on our financial position, results of operations or cash flows.
Multiple legal actions, investigations and inquiries were initiated concerning the October 29, 2018, accident of Lion Air Flight 610 and the March 10, 2019 accident of Ethiopian Airlines Flight 302. While many of these legal actions and investigations have been resolved, others are still pending, including a federal securities class action filed in federal district court in the Northern District of Illinois, and a number of civil lawsuits and claims brought by family members of those lost in the accidents. Furthermore, on January 7, 2021, we entered into a Deferred Prosecution Agreement (DPA) with the U.S. Department of Justice (the Department) relating to the Department’s investigation into us regarding the evaluation of the 737 MAX by the Federal Aviation Administration (the Investigation). Among other obligations, the DPA included a three-year reporting period, which ended in January 2024. On May 14, 2024, the Department notified us of its determination that we did not fulfill our obligations under the DPA and that the Department would not move to dismiss the case. On July 24, 2024, we and the Department filed a proposed plea agreement with the U.S. District Court for the Northern District of Texas (the
Court) to resolve the Investigation. Under the terms of the proposed agreement, Boeing agreed that it would plead guilty to the charge that was the basis for the DPA; pay an additional fine of $244; commit to invest at least $455 in compliance, quality and safety programs over a three-year period; and agree to the appointment of an independent compliance monitor for three years. On December 5, 2024, the Court rejected the proposed plea agreement, citing the proposed agreement’s provisions governing the monitor’s selection and supervision. In light of the Court’s ruling, Boeing and the Department are currently engaged in discussions regarding potential resolution of this matter.
Multiple legal actions were initiated as a result of the January 5, 2024, Alaska Airlines Flight 1282 accident. We are also subject to multiple governmental and regulatory investigations and inquiries relating to the Alaska Airlines Flight 1282 accident and our commercial airplanes business.
We cannot reasonably estimate a range of loss, if any, not covered by available insurance and in excess of any accrued amounts that may result given the current status of pending lawsuits, investigations and inquiries arising from the 2018 and 2019 737 MAX accidents and the Alaska Airlines Flight 1282 accident
v3.25.0.1
Segment and Revenue Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment and Revenue Information Segment and Revenue Information
We operate in three reportable segments: BCA, BDS, and BGS. All other activities fall within Unallocated items, eliminations and other. See page 59 for the Summary of Business Segment Data, which is an integral part of this note.
BCA develops, produces and markets commercial jet aircraft principally to the commercial airline industry worldwide. Revenue on commercial aircraft contracts is recognized at the point in time when an aircraft is completed and accepted by the customer.
BDS engages in the research, development, production and modification of the following products and related services: manned and unmanned military aircraft and weapons systems, surveillance and engagement, strategic defense and intelligence systems, satellite systems and space exploration. BDS revenue is generally recognized over the contract term (over time) as costs are incurred.
BGS provides parts, maintenance, modifications, logistics support, training, data analytics and information-based services to commercial and government customers worldwide. BGS segment revenue and costs include certain products and services provided to other segments. Revenue on commercial spare parts contracts is recognized at the point in time when a spare part is delivered to the customer. Revenue on other contracts is generally recognized over the contract term (over time) as costs are incurred.
Our chief operating decision maker is currently our President and Chief Executive Officer (CEO). The primary profitability measurement used by the CEO to review segment operating results is Segment operating (loss)/earnings. The CEO uses Segment operating (loss)/earnings to allocate resources (including employees, financial and capital resources) for each segment predominantly in the annual planning process. Segment operating (loss)/earnings is used to monitor segment results compared to prior period, forecasted results, and the annual plan.
The following table reconciles segment Revenues to Segment operating (loss)/earnings:
BCABDSBGS
For the year ended December 31, 2022
Revenues$26,026 $23,162 $17,611 
Less:
Research and development expense, net1,510 945 119 
Other segment items(1)
26,857 25,761 14,765 
Segment operating (loss)/earnings($2,341)($3,544)$2,727 
For the year ended December 31, 2023
Revenues$33,901 $24,933 $19,127 
Less:
Research and development expense, net2,036 919 107 
Other segment items(1)
33,500 25,778 15,691 
Segment operating (loss)/earnings($1,635)($1,764)$3,329 
For the year ended December 31, 2024
Revenues$22,861 $23,918 $19,954 
Less:
Research and development expense, net2,386 917 132 
Other segment items(1)
28,444 28,414 16,204 
Segment operating (loss)/earnings($7,969)($5,413)$3,618 
(1)    Primarily includes costs of products and services and general and administrative expenses.
While our principal operations are in the United States, Canada and Australia, some key suppliers and subcontractors are located in Europe and Japan. Revenues, including foreign military sales, are reported by customer location and consisted of the following:
Years ended December 31,202420232022
Asia$11,994 $10,013 $8,393 
Europe8,734 10,520 7,916 
Middle East4,635 6,594 5,047 
Oceania1,565 1,655 1,576 
Canada1,472 1,256 1,612 
Africa1,143 825 418 
Latin America, Caribbean and other1,246 1,524 2,412 
Total non-U.S. revenues30,789 32,387 27,374 
United States36,171 45,380 39,218 
Estimated potential concessions and other considerations to 737 MAX customers, net of insurance recoveries
(443)27 16 
Total revenues$66,517 $77,794 $66,608 
Revenues from the U.S. government (including foreign military sales through the U.S. government), primarily recorded at BDS and BGS, represented 42%, 37% and 40% of consolidated revenues for 2024, 2023 and 2022, respectively. Approximately 3% and 4% of operating assets were located outside the United States as of December 31, 2024 and 2023.
The following tables present BCA, BDS and BGS revenues from contracts with customers disaggregated in a number of ways, such as geographic location, contract type and the method of revenue recognition. We believe these best depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors.
BCA revenues by customer location consisted of the following:
Years ended December 31,
202420232022
Revenue from contracts with customers:
Asia$8,060 $6,328 $4,488 
Europe3,956 6,172 4,085 
Middle East2,012 4,311 2,003 
Other non-U.S.1,815 2,431 3,042 
Total non-U.S. revenues15,843 19,242 13,618 
United States7,326 14,501 12,275 
Estimated potential concessions and other considerations to 737 MAX customers, net of insurance recoveries
(443)27 16 
Total revenues from contracts with customers22,726 33,770 25,909 
Intersegment revenues, eliminated on consolidation135 131 117 
Total segment revenues$22,861 $33,901 $26,026 
Revenue recognized on fixed-price contracts100 %100 %100 %
Revenue recognized at a point in time99 %99 %99 %
BDS revenues on contracts with customers, based on the customer's location, consisted of the following:
Years ended December 31,
202420232022
Revenue from contracts with customers:
U.S. customers$18,589 $20,051 $17,144 
Non-U.S. customers(1)
5,329 4,882 6,018 
Total segment revenue from contracts with customers$23,918 $24,933 $23,162 
Revenue recognized over time99 %99 %99 %
Revenue recognized on fixed-price contracts54 %58 %60 %
Revenue from the U.S. government(1)
91 %91 %89 %
(1)Includes revenues earned from foreign military sales through the U.S. government.
BGS revenues consisted of the following:
Years ended December 31, 202420232022
Revenue from contracts with customers:
Commercial$11,736 $11,020 $9,560 
Government7,832 7,751 7,681 
Total revenues from contracts with customers19,568 18,771 17,241 
Intersegment revenues eliminated on consolidation386 356 370 
Total segment revenues$19,954 $19,127 $17,611 
Revenue recognized at a point in time53 %51 %50 %
Revenue recognized on fixed-price contracts86 %87 %88 %
Revenue from the U.S. government(1)
29 %30 %33 %
(1)Includes revenues earned from foreign military sales through the U.S. government.
Earnings in Equity Method Investments
During the years ended December 31, 2024, 2023, and 2022, our share of income from equity method investments was $104, $70, and $56, respectively. In 2024 and 2023, earnings in equity method investments were primarily driven by investments held at our BDS segment. In 2022, earnings in equity method investments were primarily driven by investments held in Unallocated items, eliminations and other.
Backlog
Our total backlog includes contracts that we and our customers are committed to perform. The value in backlog represents the estimated transaction prices on performance obligations to our customers for which work remains to be performed. Backlog is converted into revenue, primarily based on the cost incurred or at delivery and acceptance of products, depending on the applicable revenue recognition model.
Our backlog at December 31, 2024 was $521,336. We expect approximately 14% to be converted to revenue through 2025 and approximately 59% through 2028, with the remainder thereafter. There is significant uncertainty regarding the timing of when backlog will convert into revenue. We may experience reductions to backlog and/or significant order cancellations due to various factors including delivery delays, production disruptions and delays to entry into service of the 777X, 737-7 and/or 737-10.
Unallocated Items, Eliminations and other
Unallocated items, eliminations and other include common internal services that support Boeing’s global business operations and eliminations of certain sales between segments. We generally allocate costs to business segments based on the U.S. Government Cost Accounting Standards (CAS). Components of Unallocated items, eliminations and other income/(expense) are shown in the following table.
Years ended December 31,202420232022
Share-based plans$171 $62 ($114)
Deferred compensation(114)(188)117 
Amortization of previously capitalized interest(93)(95)(95)
Research and development expense, net(377)(315)(278)
Eliminations and other unallocated items(1,634)(1,223)(1,134)
Unallocated items, eliminations and other($2,047)($1,759)($1,504)
During the year ended December 31, 2024, Eliminations and other unallocated items included an earnings charge of $244 that reflects a fine that would be paid if an agreement with the U.S. Department of Justice is approved by the federal district court. For additional discussion, see Note 22 to our Consolidated Financial Statements.
Pension and Other Postretirement Benefit Expense
Pension costs are allocated to BDS and BGS businesses supporting government customers using CAS, which employ different actuarial assumptions and accounting conventions than GAAP. These costs are allocable to government contracts. Other postretirement benefit costs are allocated to business segments based on CAS, which is generally based on benefits paid. FAS/CAS service cost adjustment represents the difference between the Financial Accounting Standards (FAS) pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. These expenses are included in Other income, net. Components of FAS/CAS service cost adjustment are shown in the following table:
Years ended December 31,202420232022
Pension FAS/CAS service cost adjustment$811 $799 $849 
Postretirement FAS/CAS service cost adjustment293 257 294 
FAS/CAS service cost adjustment$1,104 $1,056 $1,143 
Assets
Segment assets are summarized in the table below.
December 31,20242023
Commercial Airplanes$84,177 $77,047 
Defense, Space & Security15,350 14,921 
Global Services16,704 16,193 
Unallocated items, eliminations and other40,132 28,851 
Total$156,363 $137,012 
Assets included in Unallocated items, eliminations and other primarily consist of Cash and cash equivalents, Short-term and other investments, tax assets, capitalized interest and assets managed centrally on behalf of the three principal business segments and intercompany eliminations.
Capital Expenditures
Years ended December 31,202420232022
Commercial Airplanes$508 $420 $218 
Defense, Space & Security296 192 202 
Global Services212 127 130 
Unallocated items, eliminations and other1,214 788 672 
Total$2,230 $1,527 $1,222 
Capital expenditures for Unallocated items, eliminations and other relate primarily to assets managed centrally on behalf of the three principal business segments.
Depreciation and Amortization
Years ended December 31,202420232022
Commercial Airplanes$400 $464 $554 
Defense, Space & Security
209 219 238 
Global Services304 320 346 
Centrally Managed Assets (1)
923 858 841 
Total$1,836 $1,861 $1,979 
(1)Amounts shown in the table represent depreciation and amortization expense recorded by the individual business segments. Depreciation and amortization for centrally managed assets are allocated to business segments based on usage and occupancy. In 2024, $705 was allocated to the primary business segments, of which $339, $289 and $77 was allocated to BCA, BDS and BGS, respectively. In 2023, $650 was allocated the primary business segments, of which $311, $264 and $75 was allocated to BCA, BDS and BGS, respectively. In 2022, $644 was allocated to the primary business segments, of which $361, $230 and $53 was allocated to BCA, BDS and BGS, respectively.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net loss attributable to Boeing shareholders $ (11,817) $ (2,222) $ (4,935)
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Our cybersecurity strategy prioritizes detection, analysis and response to known, anticipated or unexpected threats; effective management of security risks; and resiliency against incidents. Our cybersecurity risk management processes include technical security controls, policy enforcement mechanisms, monitoring systems, employee training, contractual arrangements, tools and related services from third-party providers, and management oversight to assess, identify and manage material risks from cybersecurity threats. We implement risk-based controls to protect our information, the information of our customers, suppliers, and other third parties, our information systems, our business operations, and our products and related services. We have adopted security-control principles based on the National Institute of Standards and Technology (NIST) Cybersecurity Framework, other industry-recognized standards, and contractual requirements, as applicable. We also leverage government partnerships, industry and government associations, third-party benchmarking, the results from regular internal and third-party audits, threat intelligence feeds, and other similar resources to inform our cybersecurity processes and allocate resources.
We maintain security programs that include physical, administrative and technical safeguards, and we maintain plans and procedures whose objective is to help us prevent and timely and effectively respond to cybersecurity threats or incidents. Through our cybersecurity risk management process, we continuously monitor cybersecurity vulnerabilities and potential attack vectors to company systems as well as our aerospace products and services, and we evaluate the potential operational and financial effects of any threat and of cybersecurity countermeasures made to defend against such threats. We continue to integrate our cyber practice into our Enterprise Risk Management program and our Compliance Risk Management program, both of which are overseen by our Board of Directors and provide central, standardized frameworks for identifying and tracking cyber-related business and compliance risks across the Company. Risks from cybersecurity threats to our products and services are also overseen by our Board of Directors. In addition, we periodically engage third-party consultants to assist us in assessing, enhancing, implementing, and monitoring our cybersecurity risk management programs and responding to any incidents.
As part of our cybersecurity risk management process, we conduct “tabletop” exercises during which we simulate cybersecurity incidents to ensure that we are prepared to respond to such an incident and to highlight any areas for potential improvement in our cyber incident preparedness. In addition, all employees are required to complete a mandatory cybersecurity training course on an annual basis and receive monthly phishing simulations to provide “experiential learning” on how to recognize phishing attempts.
We have established a cybersecurity supply chain risk management program, which is a cross-functional program that forms part of our Enterprise Risk Management program and is supported by our security, compliance, and supply chain organizations. Through this evolving program, we assess the risks from cybersecurity threats that impact select suppliers and third-party service providers with whom we share personal identifying and confidential information. We continue to evolve our oversight processes to mature how we identify and manage cybersecurity risks associated with the products or services we procure from such suppliers. We generally require our suppliers to adopt security-control principles based on industry-recognized standards.
We have experienced, and may in the future experience, whether directly or through our supply chain or other channels, cybersecurity incidents. While prior incidents have not materially affected our business strategy, results of operations or financial condition, and although our processes are designed to help prevent, detect, respond to, and mitigate the impact of such incidents, there is no guarantee that a future cyber incident would not materially affect our business strategy, results of operations or financial condition. See “Risks Related to Technology, Security and Business Disruptions” in “Risk Factors” on pages 14 - 15 of this Form 10-K.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Our cybersecurity strategy prioritizes detection, analysis and response to known, anticipated or unexpected threats; effective management of security risks; and resiliency against incidents. Our cybersecurity risk management processes include technical security controls, policy enforcement mechanisms, monitoring systems, employee training, contractual arrangements, tools and related services from third-party providers, and management oversight to assess, identify and manage material risks from cybersecurity threats. We implement risk-based controls to protect our information, the information of our customers, suppliers, and other third parties, our information systems, our business operations, and our products and related services. We have adopted security-control principles based on the National Institute of Standards and Technology (NIST) Cybersecurity Framework, other industry-recognized standards, and contractual requirements, as applicable. We also leverage government partnerships, industry and government associations, third-party benchmarking, the results from regular internal and third-party audits, threat intelligence feeds, and other similar resources to inform our cybersecurity processes and allocate resources.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Our Board of Directors has overall responsibility for risk oversight, with its committees assisting the Board in performing this function based on their respective areas of expertise. Our Board of Directors has delegated oversight of risks related to cybersecurity to two Board committees, the Audit Committee and the Aerospace Safety Committee, and each committee reports on its activities and findings to the full Board after each meeting. The Audit Committee is charged with reviewing our cybersecurity processes for assessing key strategic, operational, and compliance risks. Our Chief Information Digital Officer and Senior Vice President, Information Technology & Data Analytics (CIDO) and our Chief Security Officer (CSO) provide presentations to the Audit Committee on cybersecurity risks at each of its bimonthly meetings. These briefings include assessments of cyber risks, the threat landscape, updates on incidents, and reports on our investments in cybersecurity risk mitigation and governance. In addition, the Audit Committee has designated one of its members with expertise in cyber risk management to meet regularly with management and review our cybersecurity strategy and key initiatives and progress toward our objectives. In the event of a potentially material cybersecurity event,
the Chair of the Audit Committee is notified and briefed, and meetings of the Audit Committee and/or full Board of Directors would be held, as appropriate. The Aerospace Safety Committee provides oversight of the risks from cybersecurity threats related to our aerospace products and services. The Aerospace Safety Committee receives regular updates and reports from senior management, including the Chief Engineer, the Chief Aerospace Safety Officer, and the Chief Product Security Engineer, who provide briefings on significant cybersecurity threats or incidents that may pose a risk to the safe operation of our aerospace products. Both committees brief the full Board on cybersecurity matters discussed during committee meetings, and the CIDO provides annual briefings to the Board on information technology and data analytics related matters, including cybersecurity.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
Our Board of Directors has overall responsibility for risk oversight, with its committees assisting the Board in performing this function based on their respective areas of expertise. Our Board of Directors has delegated oversight of risks related to cybersecurity to two Board committees, the Audit Committee and the Aerospace Safety Committee, and each committee reports on its activities and findings to the full Board after each meeting. The Audit Committee is charged with reviewing our cybersecurity processes for assessing key strategic, operational, and compliance risks. Our Chief Information Digital Officer and Senior Vice President, Information Technology & Data Analytics (CIDO) and our Chief Security Officer (CSO) provide presentations to the Audit Committee on cybersecurity risks at each of its bimonthly meetings. These briefings include assessments of cyber risks, the threat landscape, updates on incidents, and reports on our investments in cybersecurity risk mitigation and governance. In addition, the Audit Committee has designated one of its members with expertise in cyber risk management to meet regularly with management and review our cybersecurity strategy and key initiatives and progress toward our objectives. In the event of a potentially material cybersecurity event,
the Chair of the Audit Committee is notified and briefed, and meetings of the Audit Committee and/or full Board of Directors would be held, as appropriate. The Aerospace Safety Committee provides oversight of the risks from cybersecurity threats related to our aerospace products and services. The Aerospace Safety Committee receives regular updates and reports from senior management, including the Chief Engineer, the Chief Aerospace Safety Officer, and the Chief Product Security Engineer, who provide briefings on significant cybersecurity threats or incidents that may pose a risk to the safe operation of our aerospace products. Both committees brief the full Board on cybersecurity matters discussed during committee meetings, and the CIDO provides annual briefings to the Board on information technology and data analytics related matters, including cybersecurity.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our Chief Information Digital Officer and Senior Vice President, Information Technology & Data Analytics (CIDO) and our Chief Security Officer (CSO) provide presentations to the Audit Committee on cybersecurity risks at each of its bimonthly meetings. These briefings include assessments of cyber risks, the threat landscape, updates on incidents, and reports on our investments in cybersecurity risk mitigation and governance. In addition, the Audit Committee has designated one of its members with expertise in cyber risk management to meet regularly with management and review our cybersecurity strategy and key initiatives and progress toward our objectives. In the event of a potentially material cybersecurity event, the Chair of the Audit Committee is notified and briefed, and meetings of the Audit Committee and/or full Board of Directors would be held, as appropriate. The Aerospace Safety Committee provides oversight of the risks from cybersecurity threats related to our aerospace products and services. The Aerospace Safety Committee receives regular updates and reports from senior management, including the Chief Engineer, the Chief Aerospace Safety Officer, and the Chief Product Security Engineer, who provide briefings on significant cybersecurity threats or incidents that may pose a risk to the safe operation of our aerospace products. Both committees brief the full Board on cybersecurity matters discussed during committee meetings
Cybersecurity Risk Role of Management [Text Block]
At the management level, we have established a Global Security Governance Council (the Council) to further strengthen our cybersecurity risk management activities across the Company, including the prevention, detection, mitigation, and remediation of cybersecurity incidents. The Council is responsible for developing and coordinating enterprise cybersecurity policy and strategy, and for providing guidance to key management and oversight bodies.
Trent Cox, Vice President of Product and Business Operations, is serving as our interim CSO. In that role, he chairs the Council and is responsible for overseeing a unified security program that provides cybersecurity, fire and protection operations, physical security, insider threat, and classified security. Mr. Cox has over 25 years of experience in the aerospace and defense industry, including, prior to joining Boeing in 2024, Chief Information Officer of Raytheon UK, Deputy CIO and Executive Director of Collins Aerospace and Raytheon Intelligence and Space, and Executive Director for Program Execution for the Raytheon Missile Systems businesses. He reports directly to the CIDO and meets regularly with other members of senior management and the Audit Committee.
The Council also includes, among other senior executives, our CIDO, Chief Engineer, Chief Information Officer, Chief Aerospace Safety Officer and Chief Product Security Engineer, who each have several decades of business and senior leadership experience managing risks in their respective fields, collectively covering all aspects of cybersecurity, data and analytics, product security engineering, enterprise engineering, safety and the technical integrity of our products and services.
The Council meets monthly and updates key members of the Company’s Executive Council on progress towards specific cybersecurity objectives. A strong partnership exists between Information Technology, Enterprise Security, Corporate Audit, and Law so that identified issues are addressed in a timely manner and incidents are reported to the appropriate regulatory bodies as required.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] At the management level, we have established a Global Security Governance Council (the Council) to further strengthen our cybersecurity risk management activities across the Company, including the prevention, detection, mitigation, and remediation of cybersecurity incidents. The Council is responsible for developing and coordinating enterprise cybersecurity policy and strategy, and for providing guidance to key management and oversight bodies.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Mr. Cox has over 25 years of experience in the aerospace and defense industry, including, prior to joining Boeing in 2024, Chief Information Officer of Raytheon UK, Deputy CIO and Executive Director of Collins Aerospace and Raytheon Intelligence and Space, and Executive Director for Program Execution for the Raytheon Missile Systems businesses. He reports directly to the CIDO and meets regularly with other members of senior management and the Audit Committee. The Council also includes, among other senior executives, our CIDO, Chief Engineer, Chief Information Officer, Chief Aerospace Safety Officer and Chief Product Security Engineer, who each have several decades of business and senior leadership experience managing risks in their respective fields, collectively covering all aspects of cybersecurity, data and analytics, product security engineering, enterprise engineering, safety and the technical integrity of our products and services.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
At the management level, we have established a Global Security Governance Council (the Council) to further strengthen our cybersecurity risk management activities across the Company, including the prevention, detection, mitigation, and remediation of cybersecurity incidents. The Council is responsible for developing and coordinating enterprise cybersecurity policy and strategy, and for providing guidance to key management and oversight bodies.
Trent Cox, Vice President of Product and Business Operations, is serving as our interim CSO. In that role, he chairs the Council and is responsible for overseeing a unified security program that provides cybersecurity, fire and protection operations, physical security, insider threat, and classified security. Mr. Cox has over 25 years of experience in the aerospace and defense industry, including, prior to joining Boeing in 2024, Chief Information Officer of Raytheon UK, Deputy CIO and Executive Director of Collins Aerospace and Raytheon Intelligence and Space, and Executive Director for Program Execution for the Raytheon Missile Systems businesses. He reports directly to the CIDO and meets regularly with other members of senior management and the Audit Committee.
The Council also includes, among other senior executives, our CIDO, Chief Engineer, Chief Information Officer, Chief Aerospace Safety Officer and Chief Product Security Engineer, who each have several decades of business and senior leadership experience managing risks in their respective fields, collectively covering all aspects of cybersecurity, data and analytics, product security engineering, enterprise engineering, safety and the technical integrity of our products and services.
The Council meets monthly and updates key members of the Company’s Executive Council on progress towards specific cybersecurity objectives. A strong partnership exists between Information Technology, Enterprise Security, Corporate Audit, and Law so that identified issues are addressed in a timely manner and incidents are reported to the appropriate regulatory bodies as required.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Summary of Significant Accounting Policies (Policy)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Principles of Consolidation and Basis of Presentation
Principles of Consolidation and Basis of Presentation
The Consolidated Financial Statements included in this report have been prepared by management of The Boeing Company (herein referred to as “Boeing,” the “Company,” “we,” “us” or “our”). These statements include the accounts of all majority-owned subsidiaries and variable interest entities that are required to be consolidated. All significant intercompany accounts and transactions have been eliminated. As described in Note 23, we operate in three reportable segments: Commercial Airplanes (BCA), Defense, Space & Security (BDS), and Global Services (BGS). We added a new financial statement line item to the Consolidated Statements of Cash Flows for cash invested in Supplier notes receivable and reclassified the corresponding amounts in the prior period financial statements to conform to the current period presentation.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Operating Cycle
Operating Cycle
For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year.
Revenue and Related Cost Recognition
Revenue and Related Cost Recognition
Commercial aircraft contracts The majority of our BCA segment revenue is derived from commercial aircraft contracts. For each contract, we determine the transaction price based on the consideration expected to be received. We allocate the transaction price to each commercial aircraft performance obligation based on relative standalone selling prices adjusted by an escalation formula as specified in the customer agreement. Revenue is recognized for each commercial aircraft performance obligation at the point in time when the aircraft is completed and accepted by the customer. We use program accounting to determine the amount reported as cost of sales.
Payments for commercial aircraft sales are received in accordance with the customer agreement, which generally includes a deposit upon order and additional payments in accordance with a payment schedule, with the balance being due immediately prior to or at aircraft delivery. Advances and progress billings (contract liabilities) are normal and customary for commercial aircraft contracts and not considered a significant financing component as they are intended to protect us from the other party failing to adequately complete some or all of its obligations under the contract.
Long-term contracts Substantially all contracts at BDS and certain contracts at BGS are long-term contracts with the U.S. government and other customers that generally extend over several years. Products sales under long-term contracts primarily include fighter jets, rotorcraft, cybersecurity products, surveillance suites, advanced weapons, missile defense, military derivative aircraft, satellite systems and modification of commercial passenger aircraft to cargo freighters. Sales of services under
long-term contracts primarily include support and maintenance agreements associated with our commercial and defense products and space travel on Commercial Crew.
For each long-term contract, we determine the transaction price based on the consideration expected to be received. We allocate the transaction price to each distinct performance obligation to deliver a good or service, or a collection of goods and/or services, based on the relative standalone selling prices. A long-term contract will typically represent a single distinct performance obligation due to the highly interdependent and interrelated nature of the underlying goods and/or services and the significant service of integration that we provide. While the scope and price on certain long-term contracts may be modified over their life, the transaction price is based on current rights and obligations under the contract and does not include potential modifications until they are agreed upon with the customer. When applicable, a cumulative adjustment or separate recognition for the additional scope and price may result. Long-term contracts can be negotiated with a fixed price or a price in which we are reimbursed for costs incurred plus an agreed upon profit. The Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing the price for contracts with the U.S. government. Certain long-term contracts include in the transaction price variable consideration, such as incentive and award fees, if specified targets are achieved. The amount included in the transaction price represents the expected value, based on a weighted probability, or the most likely amount.
Long-term contract revenue is recognized over the contract term (over time) as the work progresses, either as products are produced or as services are rendered. We generally recognize revenue over time as we perform on long-term contracts because of continuous transfer of control to the customer. For U.S. government contracts, this continuous transfer of control to the customer is supported by clauses in the contract that allow the customer to unilaterally terminate the contract for convenience, pay us for costs incurred plus a reasonable profit and take control of any work in process. Similarly, for non-U.S. government contracts, the customer typically controls the work in process as evidenced either by contractual termination clauses or by our rights to payment of the transaction price associated with work performed to date on products or services that do not have an alternative use to the Company.
The accounting for long-term contracts involves a judgmental process of estimating total revenues, costs and profit for each performance obligation. Cost of sales is recognized as incurred. The amount reported as revenues is determined by adding a proportionate amount of the estimated profit to the amount reported as cost of sales. Recognizing revenue as costs are incurred provides an objective measure of progress on the long-term contract and thereby best depicts the extent of transfer of control to the customer.
For long-term contracts for which revenue is recognized over time, changes in estimated revenues, cost of sales and the related effect on operating income are recognized using a cumulative catch-up adjustment which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a long-term contract’s percentage-of-completion. When the current estimates of total revenues and costs at completion for a long-term contract indicate a loss, a provision for the entire reach-forward loss on the long-term contract is recognized.
The table below reflects the impact of net cumulative catch-up adjustments for changes in estimated revenues and costs at completion across all long-term contracts including the impact to Loss from operations from estimated losses on unexercised options for the years ended December 31:
202420232022
Decrease to Revenue($2,794)($1,706)($2,335)
Increase to Loss from operations ($6,562)($2,943)($5,253)
Increase to Diluted loss per share
($9.83)($5.43)($8.88)
Significant adjustments during the three years ended December 31, 2024 included losses on KC-46A Tanker, T-7A Red Hawk, Commercial Crew, VC-25B and MQ-25 programs.
Due to the significance of judgment in the estimation process, changes in underlying operational assumptions, inability to implement planned risk mitigation plans, failure to achieve productivity targets, supplier shortages, quality issues and/or pricing issues, inflationary trends, or other circumstances may adversely or positively affect financial performance in future periods.
Payments under long-term contracts may be received before or after revenue is recognized. The U.S. government customer typically withholds payment of a small portion of the contract price until contract completion. Therefore, long-term contracts typically generate Unbilled receivables (contract assets) but may generate Advances and progress billings (contract liabilities). Long-term contract Unbilled receivables and Advances and progress billings are not considered a significant financing component because they are intended to protect either the customer or the Company in the event that some or all of the obligations under the contract are not completed.
Commercial spare parts contracts Certain contracts at our BGS segment include sales of commercial spare parts. For each contract, we determine the transaction price based on the consideration expected to be received. The spare parts have discrete unit prices that represent fair value. We generally consider each spare part to be a separate performance obligation. Revenue is recognized for each commercial spare part performance obligation at the point in time of delivery to the customer. We may provide our customers with a right to return a commercial spare part where a customer may receive a full or partial refund, a credit applied to amounts owed, a different product in exchange, or any combination of these items. We consider the potential for customer returns in the estimated transaction price. The amount reported as cost of sales is recorded at average cost. Payments for commercial spare parts sales are typically received shortly after delivery.
Other service revenue contracts Certain contracts at our BGS segment are for sales of services to commercial customers including maintenance, training, data analytics and information-based services. We recognize revenue for these service performance obligations over time as the services are rendered. The method of measuring progress (such as straight-line or billable amount) varies depending upon which method best depicts the transfer of control to the customer based on the type of service performed. Cost of sales is recorded as incurred.
Concession sharing arrangements We account for sales concessions to our customers in consideration of their purchase of products and services as a reduction of the transaction price and the revenue that is recognized for the related performance obligations. The sales concessions incurred may be partially reimbursed by certain suppliers in accordance with concession sharing arrangements. We record these reimbursements, which are presumed to represent reductions in the price of the vendor’s products or services, as a reduction in Cost of products.
Unbilled receivables and advances and progress billings Unbilled receivables (contract assets) arise when the Company recognizes revenue for amounts which cannot yet be billed under terms of the contract with the customer. Advances and progress billings (contract liabilities) arise when the Company receives payments from customers in advance of recognizing revenue. The amount of Unbilled receivables or Advances and progress billings is determined for each contract.
Financial services revenue We record financial services revenue associated with sales-type leases, operating leases and loans in Sales of services on the Consolidated Statements of Operations. For sales-type leases, we recognize selling profit or loss at lease inception if collection of the lease payments is probable. For sales-type leases, we record financing receivables at lease inception. A financing receivable is recorded at the aggregate of future lease payments, estimated residual value of the leased equipment, and any deferred incremental direct costs less unearned income. Income is recognized over the life of the lease to approximate a level rate of return on the net investment. For
notes receivable, we record financing receivables net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note.
Income recognition is generally suspended for financing receivables that are uncollectible. We determine that a financing receivable is uncollectible when, based on current information and events, it is probable that we will be unable to collect amounts due according to the original contractual terms. We determine a financing receivable is past due when cash has not been received upon the due date specified in the contract.
We evaluate the collectability of financing receivables at commencement and on a recurring basis. If a financing receivable is determined to be uncollectible, the customer is categorized as non-accrual status. When a customer is in non-accrual status at commencement, sales-type lease revenue is deferred until substantially all cash has been received or the customer is removed from non-accrual status. If we have a note receivable with a customer that is in non-accrual status, or a sales-type lease with a customer that changes to non-accrual status after commencement, we recognize contractual interest income as payments are received to the extent there is sufficient collateral and payments exceed past due principal payments.
Residual values, which are reviewed periodically, represent the estimated amount we expect to receive at lease termination from the disposition of the leased equipment. Actual residual values realized could differ from these estimates. Declines in estimated residual value that are deemed other-than-temporary are recognized in the period in which the declines occur.
For operating leases, revenue on leased aircraft and equipment is recorded on a straight-line basis over the term of the lease. Operating lease assets, included in Financing receivables and operating lease equipment, net, are recorded at cost and depreciated to an estimated residual value using the straight-line method over the period that we project we will hold the asset. We periodically review our estimates of residual value and recognize forecasted changes by prospectively adjusting depreciation expense. We record assets held for sale at the lower of carrying value or fair value less costs to sell. We evaluate for impairment assets under operating leases when events or changes in circumstances indicate that the expected undiscounted cash flow from the asset may be less than the carrying value. When we determine that impairment is indicated for an asset, the amount of impairment expense recorded is the excess of the carrying value over the fair value of the asset.
Reinsurance Our wholly-owned insurance subsidiary, Astro Ltd., participates in a reinsurance pool for workers’ compensation. The member agreements and practices of the reinsurance pool minimize any participating members’ individual risk. Reinsurance revenues were $110, $163 and $129 during 2024, 2023 and 2022, respectively. Reinsurance costs related to premiums and claims paid to the reinsurance pool were $123, $181 and $134 during 2024, 2023 and 2022, respectively. Revenues and costs are presented net in Cost of products and Cost of services in the Consolidated Statements of Operations.
Research and Development
Research and Development
Research and development includes costs incurred for experimentation, design and testing, as well as bid and proposal efforts related to government products and services, which are expensed as incurred unless the costs are related to certain contractual arrangements with customers. Costs that are incurred pursuant to such contractual arrangements are recorded over the period that revenue is recognized, consistent with our long-term contract accounting policy. We have certain research and development arrangements with customers that meet the conditions for best efforts research and development accounting. Accordingly, the amounts funded by the customer are recognized as an offset to our research and development expense rather than as contract revenues. Research and development expense, net included bid and proposal costs of $179, $188 and $217 in 2024, 2023 and 2022, respectively.
Share-Based Compensation
Share-Based Compensation
We provide various forms of share-based compensation to our employees. For awards settled in shares, we measure compensation expense based on the grant-date fair value net of estimated forfeitures. For awards settled in cash, or that may be settled in cash, we measure compensation expense based on the fair value at each reporting date net of estimated forfeitures. The expense is recognized over the requisite service period, which is generally the vesting period of the award.
Income Taxes
Income Taxes
Provisions for U.S. federal, state and local, and non-U.S. income taxes are calculated on reported Loss before income taxes based on current tax law and also include, in the current period, the cumulative effect of any changes in tax rates from those used previously in determining deferred tax assets and liabilities. Such provisions differ from the amounts currently receivable or payable because certain items of income and expense are recognized in different time periods for financial reporting purposes than for income tax purposes. Significant judgment is required in determining income tax provisions and evaluating tax positions.
The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. We record a liability for the difference between the benefit recognized and measured for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. Tax-related interest and penalties are classified as a component of Income tax benefit/(expense).
We also assess the likelihood that we will be able to recover our deferred tax assets against future sources of taxable income and reduce the carrying amounts of deferred tax assets by recording a valuation allowance if, based on the available evidence, it is more likely than not that all or a portion of such assets will not be realized. Changes in our estimates and judgments regarding realization of deferred tax assets may result in an increase or decrease to our tax expense and/or other comprehensive income, which would be recorded in the period in which the change occurs.
Postretirement Plans
Postretirement Plans
Many of our employees have earned benefits under defined benefit pension plans. The majority of employees that had participated in defined benefit pension plans have transitioned to a company-funded defined contribution retirement savings plan. We also provide postretirement benefit plans other than pensions, consisting principally of health care coverage to eligible retirees and qualifying dependents. Benefits under the pension and other postretirement benefit plans are generally based on age at retirement and years of service and, for some pension plans, benefits are also based on the employee’s annual earnings. The net periodic cost of our pension and other postretirement plans is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate, the long-term rate of asset return and medical trend (rate of growth for medical costs). Actuarial gains and losses, which occur when actual experience differs from actuarial assumptions, are reflected in Shareholders’ equity (net of taxes). If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities, we amortize them over the average expected future lifetime of participants. The funded status of our pension and postretirement plans is reflected on the Consolidated Statements of Financial Position.
Postemployment Plans
Postemployment Plans
We record a liability for postemployment benefits, such as severance or job training, when payment is probable and the amount is reasonably estimable.
Environmental Remediation
Environmental Remediation
We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash and cash equivalents consist of highly liquid instruments, such as commercial paper, time deposits and other money market instruments, which have original maturities of three months or less. We aggregate our cash balances by bank where conditions for right of set-off are met, and reclassify any negative balances, consisting mainly of uncleared checks, to Accounts payable. Negative balances reclassified to Accounts payable were $110 and $117 at December 31, 2024 and 2023.
Inventories
Inventories
Inventoried costs on commercial aircraft programs and long-term contracts include direct engineering, production and tooling and other non-recurring costs, and applicable overhead, which includes fringe benefits, production related indirect and plant management salaries and plant services, not in excess of estimated net realizable value. To the extent a material amount of such costs are related to an abnormal event or are fixed costs not appropriately attributable to our programs or contracts, they are expensed in the current period rather than inventoried. Inventoried costs include amounts relating to programs and contracts with long-term production cycles, a portion of which is not expected to be realized within one year. Included in inventory for federal government contracts is an allocation of allowable costs related to manufacturing process reengineering.
Commercial aircraft programs inventory includes deferred production costs and supplier advances. Deferred production costs represent actual costs incurred for production of early units that exceed the estimated average cost of all units in the program accounting quantity. Higher production costs are experienced at the beginning of a new or derivative aircraft program. Units produced early in a program require substantially more effort (labor and other resources) than units produced later in a program because of volume efficiencies and the effects of learning. We expect that these deferred costs will be fully recovered when all units included in the accounting quantity are delivered as the expected unit cost for later deliveries is below the estimated average cost of all units in the program. Supplier advances represent payments for parts we have contracted to receive from suppliers in the future. As parts are received, supplier advances are amortized to work in process.
The determination of net realizable value of long-term contract costs is based upon quarterly reviews that estimate costs to be incurred to complete all contract requirements. When actual contract costs and the estimate to complete exceed total estimated contract revenues, a loss provision is recorded. The determination of net realizable value of commercial aircraft program costs is based upon quarterly program reviews that estimate revenue and cost to be incurred to complete the program accounting quantity. When estimated costs to complete exceed estimated program revenues to go, a program loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity.
Used aircraft purchased by our BCA segment and general stock materials are stated at cost not in excess of net realizable value. Spare parts inventory is stated at lower of average unit cost or net realizable value. We review our commercial spare parts and general stock materials quarterly to identify impaired inventory, including excess or obsolete inventory, based on historical sales trends, expected production usage, and the size and age of the aircraft fleet using the part. Impaired inventories are charged to Cost of products in the period the impairment occurs.
Included in inventory for commercial aircraft programs are amounts paid or credited in cash, or other consideration to certain airline customers, that are referred to as early issue sales consideration. Early issue sales consideration is recognized as a reduction to revenue when the delivery of the aircraft under contract occurs. If an airline customer does not perform and take delivery of the contracted aircraft, we believe that we would have the ability to recover amounts paid. However, to the extent early issue sales consideration exceeds advances and is not considered to be otherwise recoverable, it would be written off against revenue of the current period.
Precontract Costs
Precontract Costs
We may, from time to time, incur costs in excess of the amounts required for existing contracts. If we determine the costs are probable of recovery from future orders, then we capitalize the precontract costs we incur, excluding start-up costs which are expensed as incurred. Capitalized precontract costs are included in Inventories in the accompanying Consolidated Statements of Financial Position. Should future orders not materialize or we determine the costs are no longer probable of recovery, the capitalized costs would be written off.
Property, Plant and Equipment
Property, Plant and Equipment
Property, plant and equipment are recorded at cost, including applicable construction-period interest, less accumulated depreciation and are depreciated principally over the following estimated useful lives: new buildings and land improvements, from 10 to 40 years; and new machinery and equipment, from 4 to 20 years. The principal method of depreciation for buildings and land improvements is 150% declining balance and for machinery and equipment is sum-of-the-years’ digits. Capitalized internal use software is included in Other assets, net and amortized using the straight line method over 5 years. Capitalized costs of software purchased as a service are included in Other assets, net and amortized using the straight line method over the term of the hosting arrangement, which is typically no greater than 10 years. We periodically evaluate the appropriateness of remaining depreciable lives assigned to long-lived assets, including assets that may be subject to a management plan for disposition.
Long-lived assets held for sale are stated at the lower of cost or fair value less cost to sell. Long-lived assets held for use are subject to an impairment assessment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.
Leases
Leases
We determine if an arrangement is, or contains, a lease under which we are the lessee at the inception date. Operating lease assets are included in Other assets, net, with the related liabilities included in Accrued liabilities and Other long-term liabilities. Assets under finance leases, which primarily represent computer equipment, are included in Property, plant and equipment, net, with the related liabilities included in Short-term debt and current portion of long-term debt and Long-term debt on the Consolidated Statements of Financial Position.
Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease
assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as fair market value adjustments, utilities and maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for operating leases is recognized on a straight-line basis over the lease term.
We have real property lease agreements with lease and non-lease components which are accounted for as a single lease component.
Asset Retirement Obligations
Asset Retirement Obligations
We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning and contractual lease restoration obligations. Recorded amounts are not material.
We also have known conditional asset retirement obligations, such as certain asbestos remediation and asset decommissioning activities to be performed in the future, that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the Consolidated Financial Statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations that we have not yet discovered (e.g. asbestos may exist in certain buildings but we have not become aware of it through the normal course of business), and therefore, these obligations also have not been included in the Consolidated Financial Statements.
Goodwill and Other Acquired Intangibles
Goodwill and Other Acquired Intangibles
Goodwill and other acquired intangible assets with indefinite lives are not amortized, but are tested for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is April 1.
We test goodwill for impairment by performing a qualitative assessment or using a quantitative test. If we choose to perform a qualitative assessment and determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the quantitative test is then performed; otherwise, no further testing is required. For operations where the quantitative test is used, we compare the carrying value of net assets to the estimated fair value of the related operations. If the fair value is determined to be less than carrying value, the shortfall up to the carrying value of the goodwill represents the amount of goodwill impairment.
We performed our annual goodwill impairment test as of April 1, 2024, using a qualitative assessment. We determined the fair value of each of our reporting units substantially exceeded their respective carrying values. Our Military Aircraft reporting unit within our BDS segment had goodwill of $1,295 and a negative carrying value at December 31, 2024.
Indefinite-lived intangibles consist of a brand and trade name and in-process research and development (IPR&D) acquired in business combinations. IPR&D is initially capitalized at fair value as an intangible asset with an indefinite life and assessed for impairment thereafter. IPR&D is reclassified to finite-lived acquired intangible assets when a project is completed and then amortized on a straight-line basis over the asset’s estimated useful life. We test these intangibles for impairment by comparing the carrying values to current projections of related discounted cash flows. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment.
Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives as follows: developed technology, from 4 to 14 years; product know-how, from 6 to 30 years; customer base, from 3 to 17 years; distribution rights, from 3 to 27 years; and other, from 1 to 32 years. We evaluate the potential impairment of finite-lived acquired intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.
Investments
Investments
Time deposits are held-to-maturity investments that are carried at cost.
Available-for-sale debt investments include commercial paper, corporate notes and U.S. government agency securities. Available-for-sale debt investments are recorded at fair value, and unrealized gains and losses are recorded, net of tax, as a component of accumulated other comprehensive income. Realized gains and losses on available-for-sale debt investments are recognized based on the specific identification method. Available-for-sale debt investments are assessed for impairment quarterly.
The equity method of accounting is used to account for investments for which we have the ability to exercise significant influence, but not control, over an investee. Significant influence is generally deemed to exist if we have an ownership interest in the voting stock of an investee of between 20% and 50%. The cumulative earnings approach is used for cash flow classification of distributions received from equity method investments.
Other Equity investments are recorded at fair value, with gains and losses recorded through net earnings. Equity investments without readily determinable fair value are measured at cost, less impairments, plus or minus observable price changes. Equity investments without readily determinable fair value are assessed for impairment quarterly.
We classify investment income and loss on our Consolidated Statements of Operations based on whether the investment is operating or non-operating in nature. Operating investments align strategically and are integrated with our operations. Earnings from operating investments, including our share of income or loss from equity method investments, dividend income from other equity investments, and any impairments or gain/loss on the disposition of these investments, are recorded in Income/(loss) from operating investments, net. Non-operating investments are those we hold for non-strategic purposes. Earnings from non-operating investments, including interest and dividends on marketable securities, and any impairments or gain/loss on the disposition of these investments are recorded in Other income, net.
Derivatives
Derivatives
All derivative instruments are recognized in the financial statements and measured at fair value regardless of the purpose or intent of holding them. We principally use derivative instruments to manage a variety of market risks. For our cash flow hedges, the derivative’s gain or loss is initially reported in comprehensive income and is subsequently reclassified into earnings in the same period(s) during which the hedged forecasted transaction affects earnings.
We have agreements to purchase and sell aluminum to address long-term strategic sourcing objectives and non-U.S. business requirements. We also hold certain other derivative instruments for economic purposes. These aluminum purchase and sale agreements and other derivative instruments are derivatives for accounting purposes but are not designated as hedges for accounting purposes. For these aluminum agreements and other derivative instruments not designated for hedge accounting treatment, the changes in their fair value are recorded in earnings immediately.
Allowances for Losses on Certain Financial Assets
Allowances for Losses on Certain Financial Assets
We establish allowances for credit losses on accounts receivable, unbilled receivables, financing receivables and certain other financial assets. The adequacy of these allowances is assessed quarterly through consideration of factors such as customer credit ratings, bankruptcy filings, published or estimated credit default rates, age of the receivable, expected loss rates and collateral exposures. Collateral exposure is the excess of the carrying value of a financial asset over the fair value of the related collateral. We determine the creditworthiness of our customers by assigning internal credit ratings based upon publicly available information and information obtained directly from the customers. Our rating categories are comparable to those used by major credit rating agencies.
Financing receivables are collateralized by security in the related asset. We use a median calculated from published collateral values from multiple third-party aircraft value publications based on the type and age of the aircraft to determine the fair value of aircraft collateral. Under certain circumstances, we apply judgment based on the attributes of the specific aircraft or equipment, usually when the features or use of the aircraft vary significantly from the more generic aircraft attributes covered by outside publications.
We have entered into agreements with certain customers and suppliers to whom we have provided financing that would entitle us to look beyond the specific collateral underlying the receivable for purposes of determining the collateral exposure. Should the proceeds from the sale of the underlying collateral asset resulting from a default condition be insufficient to cover the carrying value of our receivable (creating a shortfall condition), these agreements would, for example, permit us to take the actions necessary to sell or retain certain other assets in which the customer or supplier has an equity interest and use the proceeds to cover the shortfall.
Commercial Aircraft Trade-in Commitments
Commercial Aircraft Trade-in Commitments
In conjunction with signing a definitive agreement for the sale of new commercial aircraft (Sale Aircraft), we have entered into trade-in commitments with certain customers that give them the right to trade in used aircraft at a specified price.
Exposure related to trade-in commitments may take the form of:
(1)adjustments to revenue for the difference between the contractual trade-in price in the definitive agreement and our best estimate of the fair value of the trade-in aircraft as of the date of such agreement, which would be recognized upon delivery of the Sale Aircraft, and/or
(2)charges to cost of products for adverse changes in the fair value of trade-in aircraft that occur subsequent to signing of a definitive agreement for Sale Aircraft but prior to the purchase of the used trade-in aircraft. Estimates based on current aircraft values would be included in Accrued liabilities.
The fair value of trade-in aircraft is determined using aircraft-specific data such as model, age and condition, market conditions for specific aircraft and similar models, and multiple valuation sources. This process uses our assessment of the market for each trade-in aircraft, which in most instances begins years before the return of the aircraft. There are several possible markets in which we continually pursue opportunities to place used aircraft. These markets include, but are not limited to, the resale market, which could potentially include the cost of long-term storage; the leasing market, with the potential for refurbishment costs to meet the leasing customer’s requirements; or the scrap market. Trade-in aircraft valuation varies significantly depending on which market we determine is most likely for each aircraft. On a quarterly basis, we update our valuation analysis based on the actual activities associated with placing each aircraft into a market or using current published third-party aircraft valuations based on the type and age of the aircraft, adjusted for individual attributes and known conditions.
Warranties
Warranties
In conjunction with certain product sales, we provide warranties that cover factors such as non-conformance to specifications and defects in material and design. The majority of our warranties are issued by our BCA segment. Generally, aircraft sales are accompanied by a 3 to 4-year standard warranty for systems, accessories, equipment, parts, and software manufactured by us or manufactured to certain standards under our authorization. These warranties are included in the estimates to complete the related programs. On occasion we have made commitments beyond the standard warranty obligation to correct fleet-wide major issues of a particular model, resulting in additional accrued warranty expense. Warranties issued by our BDS segment principally relate to sales of military aircraft and weapons systems. These sales are generally accompanied by a six month to two-year warranty period and cover systems, accessories, equipment, parts and software manufactured by us to certain contractual specifications. Estimated costs related to standard warranties are recorded in the period in which the related product delivery occurs. The warranty liability recorded at each balance sheet date reflects the estimated number of months of warranty coverage outstanding for products delivered times the average of historical monthly warranty payments, as well as additional amounts for certain major warranty issues that exceed a normal claims level. Estimated costs of these additional warranty issues are considered changes to the initial liability estimate.
We provide guarantees to certain commercial aircraft customers which include compensation provisions for failure to meet specified aircraft performance targets. We account for these performance guarantees as warranties. The estimated liability for these warranties is based on known and anticipated operational characteristics and forecasted customer operation of the aircraft relative to contractually specified performance targets, and anticipated settlements when contractual remedies are not specified. Estimated payments are recorded as a reduction of revenue at delivery of the related aircraft. We have agreements that require certain suppliers to compensate us for amounts paid to customers for failure of supplied equipment to meet specified performance targets. Claims against suppliers under these agreements are included in Inventories and recorded as a reduction in Cost of products at delivery of the related aircraft. These performance warranties and claims against suppliers are included in estimates to complete the related programs.
Supplier Penalties
Supplier Penalties
We may incur penalties to suppliers under certain circumstances such as a contract termination. We record an accrual for supplier penalties when an event occurs that makes it probable we will incur a supplier penalty and the amount is reasonably estimable.
Guarantees
Guarantees
At the inception of a guarantee, we record a liability in Accrued liabilities for the fair value of the guarantee. For credit guarantees, the liability is equal to the present value of the expected loss. We determine the expected loss by multiplying the creditor’s default rate by the guarantee amount reduced by the expected recovery, if applicable. We also recognize a liability for the expected contingent loss at inception and adjust it each quarter.
Earnings Per Share
Basic and diluted earnings per share are computed using the two-class method, which is an earnings allocation method that determines earnings per share for common shares and participating securities. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. Participating securities and common shares have equal rights to undistributed earnings.
Basic earnings per share is calculated by taking net earnings attributable to Boeing shareholders, less Mandatory convertible preferred stock dividends accumulated during the period and earnings available to participating securities, divided by the basic weighted average common shares outstanding.
Diluted earnings per share is calculated by taking net earnings attributable to Boeing shareholders, less Mandatory convertible preferred stock dividends accumulated during the period and earnings available to participating securities, divided by the diluted weighted average common shares outstanding. Diluted weighted average common shares outstanding is calculated using the treasury stock method for share-based compensation awards and the if-converted method for mandatory convertible preferred shares.
Backlog
Our total backlog includes contracts that we and our customers are committed to perform. The value in backlog represents the estimated transaction prices on performance obligations to our customers for which work remains to be performed. Backlog is converted into revenue, primarily based on the cost incurred or at delivery and acceptance of products, depending on the applicable revenue recognition model.
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Summary of Business Segment Data (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Schedule of Segment Reporting Information, by Segment
(Dollars in millions) 
Years ended December 31,
202420232022
Revenues:
Commercial Airplanes$22,861 $33,901 $26,026 
Defense, Space & Security23,918 24,933 23,162 
Global Services19,954 19,127 17,611 
Unallocated items, eliminations and other(216)(167)(191)
Total revenues$66,517 $77,794 $66,608 
Loss from operations:
Commercial Airplanes($7,969)($1,635)($2,341)
Defense, Space & Security(5,413)(1,764)(3,544)
Global Services3,618 3,329 2,727 
Segment operating loss(9,764)(70)(3,158)
Unallocated items, eliminations and other(2,047)(1,759)(1,504)
FAS/CAS service cost adjustment1,104 1,056 1,143 
Loss from operations(10,707)(773)(3,519)
Other income, net1,222 1,227 1,058 
Interest and debt expense(2,725)(2,459)(2,561)
Loss before income taxes(12,210)(2,005)(5,022)
Income tax benefit/(expense)381 (237)(31)
Net loss(11,829)(2,242)(5,053)
Less: net loss attributable to noncontrolling interest(12)(20)(118)
Net loss attributable to Boeing shareholders(11,817)(2,222)(4,935)
Less: Mandatory convertible preferred stock dividends accumulated during the period58   
Net loss attributable to Boeing common shareholders($11,875)($2,222)($4,935)
v3.25.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Change in Accounting Estimate
The table below reflects the impact of net cumulative catch-up adjustments for changes in estimated revenues and costs at completion across all long-term contracts including the impact to Loss from operations from estimated losses on unexercised options for the years ended December 31:
202420232022
Decrease to Revenue($2,794)($1,706)($2,335)
Increase to Loss from operations ($6,562)($2,943)($5,253)
Increase to Diluted loss per share
($9.83)($5.43)($8.88)
v3.25.0.1
Goodwill and Acquired Intangibles (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill by Reportable Segment
Changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 were as follows:
Commercial
Airplanes		Defense, Space & SecurityGlobal ServicesOtherTotal
Balance at December 31, 2022$1,316 $3,224 $3,432 $85 $8,057 
Acquisitions3 11 16 30 
Goodwill adjustments6 6 
Balance at December 31, 2023$1,319 $3,235 $3,454 $85 $8,093 
Acquisitions9 9 18 
Dispositions(17)(17)
Goodwill adjustments(10)(10)
Balance at December 31, 2024$1,328 $3,218 $3,444 $94 $8,084 
Schedule of Finite-Lived Intangible Assets
The gross carrying amounts and accumulated amortization of our acquired finite-lived intangible assets were as follows at December 31:
20242023
Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Distribution rights$2,501 $1,554 $2,545 $1,566 
Product know-how546 475 552 465 
Customer base1,315 851 1,358 837 
Developed technology573 528 638 569 
Other278 247 280 241 
Total$5,213 $3,655 $5,373 $3,678 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Estimated amortization expense for the five succeeding years is as follows:
20252026202720282029
Estimated amortization expense$207 $202 $182 $155 $155 
v3.25.0.1
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Weighted Average Number of Shares
The elements used in the computation of Basic and Diluted loss per share were as follows:
(In millions - except per share amounts)
Years ended December 31,202420232022
Net loss attributable to Boeing shareholders($11,817)($2,222)($4,935)
Less: Mandatory convertible preferred stock dividends accumulated during the period
58 
Less: earnings available to participating securities
Net loss available to common shareholders($11,875)($2,222)($4,935)
Basic
Basic weighted average shares outstanding
647.2 606.1 595.2 
Less: participating securities(1)
0.3 0.3 0.3 
Basic weighted average common shares outstanding
646.9 605.8 594.9 
Diluted
Diluted weighted average shares outstanding
647.2 606.1 595.2 
Less: participating securities(1)
0.3 0.3 0.3 
Diluted weighted average common shares outstanding
646.9 605.8 594.9 
Net loss per share:
Basic
($18.36)($3.67)($8.30)
Diluted
(18.36)(3.67)(8.30)
(1)Participating securities include certain instruments in our deferred compensation plan.
Schedule of Weighted Average Number of Shares Outstanding Excluded from the Computation of Diluted Earnings Per Share
The following table represents potential common shares that were not included in the computation of Diluted loss per share because the effect was antidilutive based on their strike price or the performance condition was not met.
(Shares in millions)
Years ended December 31,202420232022
Performance-based restricted stock units 0.4 
Performance restricted stock units
0.7  
Restricted stock units0.5 1.0 
Stock options0.8 0.8 0.8 
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Components of Earnings Before Income Taxes Between Domestic and Foreign Jurisdictions
The components of Loss before income taxes were:
Years ended December 31,202420232022
U.S.($12,813)($2,512)($5,457)
Non-U.S.603 507 435 
Total($12,210)($2,005)($5,022)
Schedule of Income Tax Expense/(Benefit)
Income tax (benefit)/expense consisted of the following:
Years ended December 31,202420232022
Current tax (benefit)/expense
U.S. federal($277)$9 ($58)
Non-U.S.184 179 142 
U.S. state14 19 (42)
Total current(79)207 42 
Deferred tax (benefit)/expense
U.S. federal(71)6 (62)
Non-U.S.3 5 (3)
U.S. state(234)19 54 
Total deferred(302)30 (11)
Total income tax (benefit)/expense
($381)$237 $31 
Schedule of Effective Income Tax Rate Reconciliation
The following is a reconciliation of the U.S. federal statutory tax to actual income tax (benefit)/expense:
Years ended December 31,202420232022
AmountRateAmountRateAmountRate
U.S. federal statutory tax($2,564)21.0 %($421)21.0 %($1,054)21.0 %
Valuation allowance3,145 (25.8)1,150 (57.3)1,199 (23.9)
Federal audit settlement(1)
(490)4.0 
Research and development credits(409)3.3 (472)23.6 (204)4.1 
State income tax provision, net of effects on U.S. federal tax(223)1.8 (75)3.7 (90)1.8 
Tax on non-U.S. activities113 (0.9)35 (1.8)64 (1.3)
Impact of subsidiary shares purchased from noncontrolling interests
(29)1.5 
Other provision adjustments47 (0.3)49 (2.5)116 (2.3)
Income tax (benefit)/expense
($381)3.1 %$237 (11.8)%$31 (0.6)%
(1)     In the second quarter of 2024, we recorded a tax benefit of $490 related to the settlement of the 2018-2020 federal tax audit, which excludes an associated $155 valuation expense that is recorded in the Valuation allowance line.
Significant Components of Deferred Tax Assets Net of Deferred Tax Liabilities
Significant components of our deferred tax assets/(liabilities) at December 31 were as follows:
20242023
Inventory and long-term contract methods of income recognition($4,765)($5,115)
Federal net operating loss, credit, interest and other carryovers(1)
4,719 2,551 
Research expenditures3,936 2,873 
Fixed assets, intangibles and goodwill(1,526)(1,566)
State net operating loss, credit, interest and other carryovers(2)
1,353 1,137 
Other employee benefits1,049 1,162 
Pension benefits1,045 1,178 
Accrued expenses and reserves 1,029 956 
Other postretirement benefit obligations587 590 
Other473 614 
Gross deferred tax assets/(liabilities) before valuation allowance$7,900 $4,380 
Valuation allowance(7,837)(4,550)
Net deferred tax assets/(liabilities) after valuation allowance$63 ($170)
(1)     Of the deferred tax asset for federal net operating loss, credit, interest and other carryovers, $1,848 expires on or before December 31, 2044 and $2,871 may be carried over indefinitely.
(2)     Of the deferred tax asset for state net operating loss, credit, interest and other carryovers, $686 expires on or before December 31, 2044 and $667 may be carried over indefinitely.
Net Deferred Tax Assets and Liabilities
Net deferred tax assets/(liabilities) at December 31 were as follows:
20242023
Deferred tax assets$17,991 $14,743 
Deferred tax liabilities(10,091)(10,363)
Valuation allowance(7,837)(4,550)
Net deferred tax assets/(liabilities)$63 ($170)
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
202420232022
Unrecognized tax benefits – January 1$1,131 $915 $858 
Gross increases – tax positions in prior periods 38 17 
Gross decreases – tax positions in prior periods(453)(3)(51)
Gross increases – current period tax positions216 181 91 
Gross decreases – current period tax positions
Settlements
(206)
Unrecognized tax benefits – December 31$688 $1,131 $915 
v3.25.0.1
Accounts Receivable, net (Tables)
 12 Months Ended
Dec. 31, 2024
Accounts Receivable, after Allowance for Credit Loss [Abstract]  
Schedule of Accounts Receivable
Accounts receivable, net at December 31 consisted of the following:
20242023
U.S. government contracts(1)
$923 $970 
Commercial Airplanes48 57 
Global Services(2)
1,581 1,526 
Defense, Space, & Security(2)
165 160 
Other6 25 
Less valuation allowance(92)(89)
Total$2,631 $2,649 
(1)Includes foreign military sales through the U.S. government
(2)Excludes U.S. government contracts
v3.25.0.1
Allowance for Losses on Financial Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Credit Loss [Abstract]  
Schedule of Financial Assets, Allowance for Credit Loss
The change in allowances for expected credit losses for the years ended December 31, 2024 and 2023 consisted of the following:
Accounts receivableUnbilled receivablesOther Current AssetsFinancing receivablesOther AssetsTotal
Balance at January 1, 2023($116)($23)($85)($55)($88)($367)
Changes in estimates(6)4 30 4 (34)(2)
Write-offs29 5 34 
Recoveries4 4 
Balance at December 31, 2023($89)($19)($50)($51)($122)($331)
Balance at January 1, 2024($89)($19)($50)($51)($122)($331)
Changes in estimates(45)(19)(8)44 (85)(113)
Write-offs41 11 8 60 
Recoveries1 1 
Balance at December 31, 2024($92)($38)($47)($7)($199)($383)
v3.25.0.1
Inventories (Tables)
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Schedule of Inventory, Current
Inventories at December 31 consisted of the following:
20242023
Commercial aircraft programs$75,192 $68,683 
Long-term contracts in progress752 686 
Capitalized precontract costs(1)
1,176 946 
Commercial spare parts, used aircraft, general stock materials and other10,430 9,426 
Total$87,550 $79,741 
(1)    Capitalized precontract costs at December 31, 2024 and 2023, includes amounts related to Commercial Crew, T-7A Red Hawk Production Options, and KC-46A Tanker. See Note 14.
v3.25.0.1
Contracts with Customers (Tables)
 12 Months Ended
Dec. 31, 2024
Contracts with Customers [Abstract]  
Schedule of Unbilled Receivables and Claims
The following table summarizes our contract assets under long-term contracts that were unbillable or related to outstanding claims as of December 31:
UnbilledClaims
2024202320242023
Current$6,348 $6,565 $9 $6 
Expected to be collected after one year2,053 1,771 51 40 
Less valuation allowance(38)(19)
Total$8,363 $8,317 $60 $46 
v3.25.0.1
Financing Receivables and Operating Lease Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Financing Receivables and Operating Lease Equipment [Abstract]  
Schedule of Financing Receivables and Operating Lease Equipment, Net
Financing receivables and operating lease equipment, net consisted of the following at December 31:
20242023
Financing receivables:
Investment in sales-type leases$203 $556 
Notes85 102 
Total financing receivables288 658 
Less allowance for losses on receivables7 51 
Financing receivables, net281 607 
Operating lease equipment, at cost, less accumulated depreciation of $46 and $70
240 352 
Total$521 $959 
Components of Investment in Sales Type or Finance Leases
The components of investment in sales-type leases at December 31 were as follows:
20242023
Gross lease payments receivable$229 $697 
Unearned income(26)(162)
Net lease payments receivable203 535 
Unguaranteed residual assets 21 
Total$203 $556 
Financing Receivable Credit Quality Indicators
Our financing receivable balances at December 31, 2024, by internal credit rating category and year of origination, consisted of the following:
Rating categoriesCurrent2023202220212020PriorTotal
BBB$32 $28 $122 $5 $9 $196 
B85 85 
CCC7 7 
Total carrying value of financing receivables $32 $28 $129 $5 $94 $288 
Schedule of Customer Financing Carrying Values Related to Major Aircraft Concentrations
The majority of our financing receivables and operating lease equipment portfolio is concentrated in the following aircraft models at December 31:
20242023
717 Aircraft (Accounted for as sales-type leases)
$196 $478 
777 Aircraft (Accounted for as operating leases)
183 194 
747-8 Aircraft (Primarily accounted for as notes)
92 129 
737 Aircraft (Primarily accounted for as operating leases)
47 156 
747-400 Aircraft (Accounted for as sales-type leases)
43 
Scheduled Receipts on Customer Financing
As of December 31, 2024, undiscounted cash flows for notes receivable, sales-type and operating leases over the next five years and thereafter are as follows:
Notes receivable
Sales-type leases
Operating leases
Year 1$9 $189 $47 
Year 210 13 39 
Year 311 13 34 
Year 412 14 32 
Year 513  13 
Thereafter30   
Total financing receipts85 229 165 
Less imputed interest(26)
Total$85 $203 $165 
v3.25.0.1
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
Property, plant and equipment at December 31 consisted of the following:
20242023
Land$353 $377 
Buildings and land improvements14,985 14,795 
Machinery and equipment16,660 16,055 
Construction in progress2,339 1,679 
Gross property, plant and equipment34,337 32,906 
Less accumulated depreciation(22,925)(22,245)
Total$11,412 $10,661 
v3.25.0.1
Investments (Tables)
 12 Months Ended
Dec. 31, 2024
Investments [Abstract]  
Schedule of Investments
Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following at December 31:
2024 2023
Time deposits (1)
$11,960 $2,753 
Equity method investments (2)
948 966 
Available-for-sale debt investments (1)
517 499 
Equity and other investments34 69 
Restricted cash & cash equivalents (1)(3)
21 22 
Total$13,480 $4,309 
(1)Primarily included in Short-term and other investments on our Consolidated Statements of Financial Position.
(2)Dividends received were $55 and $31 during 2024 and 2023. Retained earnings at December 31, 2024 and 2023 include undistributed earnings from our equity method investments of $141 and $110.
(3)Reflects amounts restricted in support of our workers’ compensation programs and insurance premiums.
Schedule of Equity Method Investments
Equity Method Investments
Our equity method investments consisted of the following at December 31:
SegmentOwnership PercentagesInvestment Balance
2024 2023
United Launch Alliance
BDS
50%$557 $582 
OtherBCA, BDS, BGS and Other 391 384 
Total equity method investments$948 $966 
v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Supplemental Balance Sheet Information Related to Operating Leases
Supplemental information related to leases included in the Consolidated Statements of Financial Position at December 31 is as follows:
20242023
Operating leases:
Operating lease right-of-use assets$1,984$1,690
Operating lease liabilities:
Current portion of lease liabilities324296
Non-current portion of lease liabilities1,7701,518
Total operating lease liabilities$2,094$1,814
Weighted average remaining lease term (years)
1211
Weighted average discount rate3.43%3.21%
Schedule of Maturities of Operating Liabilities
Scheduled payments for operating lease liabilities are as follows:
Operating leases
2025$421 
2026373 
2027318 
2028263 
2029194 
Thereafter1,285 
Total lease payments2,855 
Less imputed interest(761)
Total$2,094 
v3.25.0.1
Liabilities, Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Accrued Liabilities
Accrued liabilities at December 31 consisted of the following:
20242023
Forward loss recognition$7,634 $4,699 
Accrued compensation and employee benefit costs6,110 6,721 
Product warranties2,133 2,448 
Environmental834 844 
Accrued interest payable796 652 
737 MAX customer concessions and other considerations
641 1,327 
Other customer concessions and considerations1,552 1,300 
Current portion of retiree healthcare and pension liabilities452 473 
Current portion of lease liabilities324 296 
Other3,627 3,571 
Total$24,103 $22,331 
Schedule of 737 Max Customer Concessions and Other Considerations Liability
The following table summarizes changes in the 737 MAX customer concessions and other considerations liability during 2024 and 2023.
20242023
Beginning balance – January 1$1,327 $1,864 
Reductions for payments made(929)(449)
Reductions for concessions and other in-kind considerations(267)(61)
Changes in estimates510 (27)
Ending balance – December 31$641 $1,327 
Schedule of Environmental Remediation Activity
The following table summarizes changes in environmental remediation liabilities during the years ended December 31, 2024 and 2023.
20242023
Beginning balance – January 1$844 $752 
Reductions for payments made, net of recoveries(120)(79)
Changes in estimates110 171 
Ending balance – December 31$834 $844 
Schedule of Product Warranty Activity
The following table summarizes changes in product warranty liabilities recorded during the years ended December 31, 2024 and 2023.
20242023
Beginning balance – January 1$2,448 $2,275 
Additions for current year deliveries81 164 
Reductions for payments made(392)(320)
Changes in estimates(4)329 
Ending balance – December 31$2,133 $2,448 
Schedule of Contractual Obligation, Fiscal Year Maturity The estimated earliest potential funding dates for these commitments as of December 31, 2024 are as follows:
Total
2025$3,449 
20263,938 
20273,735 
20282,273 
20291,773 
Thereafter1,956 
Total
$17,124 
Schedule of Supplier Finance Program The following table summarizes changes in Accounts payable to suppliers participating in supply chain financing programs:
2024
Beginning balance – January 1$2,871 
Additions12,476 
Reductions for payments made(12,644)
Ending balance – December 31$2,703 
v3.25.0.1
Arrangements with Off-Balance Sheet Risk (Tables)
 12 Months Ended
Dec. 31, 2024
Guarantees [Abstract]  
Schedule of Guarantor Obligations
The following table provides quantitative data regarding our third party guarantees. The maximum potential payments represent a “worst-case scenario” and do not necessarily reflect amounts that we expect to pay. The carrying amount of liabilities represents the amount included in Accrued liabilities.
Maximum
Potential
Payments		Estimated
Proceeds from
Collateral/
Recourse		Carrying
Amount of
Liabilities
December 31,202420232024202320242023
Contingent repurchase commitments$295 $404 $295 $404 
Credit guarantees15 15  $14 $14 
v3.25.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Short-Term Debt and Current Portion of Long-Term Debt
Short-term debt and current portion of long-term debt at December 31 consisted of the following:

20242023
Unsecured debt$850 $5,072 
Finance lease obligations86 77 
Other notes342 55 
Total$1,278 $5,204 
Schedule of Debt
Debt at December 31 consisted of the following:

20242023
Unsecured debt
1.43% - 2.50% due through 2032
$6,159 $10,135 
2.60% - 3.20% due through 2030
5,389 6,071 
3.25% - 3.90% due through 2059
9,637 9,584 
3.95% - 5.15% due through 2059
7,462 11,024 
5.71% - 6.63% due through 2060
18,987 13,015 
6.86% - 8.75% due through 2064
5,577 1,855 
Other debt and notes
Finance lease obligations due through 2044
239 253 
Other notes414 370 
Total debt$53,864 $52,307 
Schedule of Maturities of Long-Term Debt
Scheduled principal payments for debt for the next five years are as follows:
20252026202720282029
Debt and other notes
$1,173 $8,022 $4,364 $1,800 $2,500 
Schedule of Finance Lease, Liability, to be Paid, Maturity
Scheduled payments for finance lease obligations are as follows:
Finance lease obligations
2025$95 
202675 
202743 
202814 
20294 
Thereafter
37 
Total finance lease payments
268 
Less imputed interest
(29)
Total
$239 
v3.25.0.1
Postretirement Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits, Description [Abstract]  
Components of Net Periodic Benefit Cost
The components of net periodic benefit (income)/cost were as follows:
PensionOther Postretirement Benefits
Years ended December 31,202420232022202420232022
Service cost$5 $2 $3 $51 $49 $72 
Interest cost2,635 2,820 2,080 124 148 98 
Expected return on plan assets(3,311)(3,441)(3,789)(10)(9)(10)
Amortization of prior service credits(81)(81)(81)(11)(22)(35)
Recognized net actuarial loss/(gain)281 173 913 (176)(175)(111)
Settlement/curtailment gain(4)
Net periodic benefit (income)/cost($471)($527)($878)($22)($9)$14 
Net periodic benefit cost included in Loss from operations$5 $2 $3 $47 $62 $79 
Net periodic benefit income included in Other income, net(476)(529)(881)(73)(58)(58)
Net periodic benefit (income)/cost included in Loss before income taxes
($471)($527)($878)($26)$4 $21 
Schedule of Changes in the Benefit Obligation, Plan Assets and Funded Status of Pensions and OPB
The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2024 and 2023. Benefit obligation balances presented below reflect the PBO for our pension plans and accumulated postretirement benefit obligations (APBO) for our OPB plans.
PensionOther Postretirement Benefits
2024202320242023
Change in benefit obligation
Beginning balance$54,325 $55,117 $2,651 $2,978 
Service cost5 2 51 49 
Interest cost2,635 2,820 124 148 
Amendments140   
Actuarial (gain)/loss(2,493)1,217 156 (152)
Gross benefits paid(4,173)(4,837)(336)(375)
Subsidies 8 2 
Exchange rate adjustment(18)6 (3)1 
Ending balance$50,421 $54,325 $2,651 $2,651 
Change in plan assets
Beginning balance at fair value$48,891 $49,825 $163 $140 
Actual return on plan assets738 3,756 22 23 
Plan participants’ contributions 1 4 
Benefits paid(4,034)(4,698)(3)(4)
Exchange rate adjustment(21)8  
Ending balance at fair value$45,574 $48,891 $183 $163 
Amounts recognized in Consolidated Statements of Financial Position at December 31 consist of:
Other assets$1,289 $1,219 $21 $81 
Accrued liabilities(139)(137)(313)(336)
Accrued retiree health care(2,176)(2,233)
Accrued pension plan liability, net(5,997)(6,516)
Net amount recognized($4,847)($5,434)($2,468)($2,488)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss
Amounts recognized in Accumulated other comprehensive loss (AOCI) at December 31 were as follows:
PensionOther Postretirement Benefits
2024202320242023
Net actuarial loss/(gain)$17,976 $18,175 ($1,534)($1,852)
Prior service credits(922)(1,143)(8)(19)
Total recognized in AOCI
$17,054 $17,032 ($1,542)($1,871)
Schedule of Key Information for All Plans with ABO in Excess of Plan Assets Key information for our plans with ABO and PBO in excess of plan assets as of December 31 was as follows:
20242023
Accumulated benefit obligation$44,470 $47,665 
Fair value of plan assets38,866 41,666 
20242023
Projected benefit obligation$45,002 $48,320 
Fair value of plan assets38,866 41,666 
Schedule of Assumptions Used to Calculate the Benefit Obligation and Net Periodic Benefit Costs
The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.
December 31,202420232022
Discount rate:
Pension5.60 %5.10 %5.40 %
Other postretirement benefits5.40 %5.00 %5.30 %
Expected return on plan assets6.00 %6.00 %6.00 %
Rate of compensation increase4.30 %4.30 %4.30 %
Interest crediting rates for cash balance plans5.00 %5.00 %5.00 %
Schedule of Assumed Health Care Cost Trend Rates
Assumed health care cost trend rates were as follows:
December 31,202420232022
Health care cost trend rate assumed next year6.00 %5.50 %5.50 %
Ultimate trend rate4.50 %4.50 %4.50 %
Year that trend reaches ultimate rate203120282028
Schedule of Actual Allocations for Pension Assets and Target Allocations by Asset Class The actual and target allocations by asset class for the pension assets at December 31 were as follows:
Actual AllocationsTarget Allocations
Asset Class2024202320242023
Fixed income59 %60 %59 %59 %
Global equity19 19 20 20 
Private equity9 8 7 7 
Real estate and real assets7 7 7 7 
Hedge funds6 6 7 7 
Total100 %100 %100 %100 %
Schedule of Allocation of Plan Assets The following table presents our plan assets using the fair value hierarchy as of December 31, 2024 and 2023. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant unobservable inputs.
December 31, 2024December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Fixed income securities:
Corporate$16,322 $16,288 $34 $17,809 $17,750 $59 
U.S. government and agencies
5,182 5,182 6,822 6,822 
Mortgage backed and asset backed
783 611 172 505 344 161 
Municipal613 613 816 816 
Sovereign924 923 1 720 720 
Other 5 $2 3 9 $6 3 
Derivatives:
Assets69 69 
Liabilities(194)(194)
Cash equivalents and other short-term investments
650 646 4 326 326 
Equity securities:
U.S. common and preferred stock
3,645 3,645 3,391 3,391 
Non-U.S. common and preferred stock
2,530 2,530 2,204 2,204 
Boeing company stock
Derivatives:
Assets
Liabilities
Private equity
Real estate and real assets:
Real estate
Real assets389 348 39 2 385 349 33 3 
Derivatives:
Assets1 1 
Liabilities
Total$30,850 $6,525 $24,112 $213 $33,056 $5,950 $26,880 $226 
Fixed income common/collective/pooled funds$1,309 $1,378 
Fixed income other1,364 1,364 
Equity common/collective/ pooled funds2,385 2,702 
Private equity3,919 4,102 
Real estate and real assets2,925 3,138 
Hedge funds2,608 2,751 
Total investments measured at NAV as a practical expedient$14,510 $15,435 
Cash$265 $86 
Receivables382 438 
Payables(433)(124)   
Total$45,574 $48,891 
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The following tables summarizes the changes of Level 3 assets, reconciled by asset class, held during the years ended December 31, 2024 and 2023. Transfers into and out of Level 3 are reported at the beginning-of-year values.
January 1
2024 Balance
Net Realized and Unrealized (Losses)/Gains
Net Purchases, Issuances and SettlementsNet Transfers Into/(Out of) Level 3December 31
2024 Balance
Fixed income securities:
Corporate
$59 ($3)($22)$34 
Mortgage backed and
   asset backed
161 2 5 $4 172 
Other3 (3) 
Sovereign 1 1 
Cash equivalents and other short-term investments 4 4 
Equity securities:
Non-U.S. common and
   preferred stock		 1 (1)
Real assets3 (2)1 2 
Total$226 ($3)($15)$5 $213 
January 1
2023 Balance		Net Realized and Unrealized Gains/(Losses)Net Purchases, Issuances and SettlementsNet Transfers Into/(Out of) Level 3December 31
2023 Balance
Fixed income securities:
  Corporate
$70 $5 ($16)$59 
U.S. government and agencies
(1)$1 
Mortgage backed and asset backed
162 7 10 (18)161 
Municipal32 (5)(27)
Other3 3 
Real assets4 (1)3 
Total$268 $14 ($12)($44)$226 
Schedule of Estimated Future Benefit Payments The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only.
Year(s)202520262027202820292030-2034
Pensions$4,702 $4,427 $4,302 $4,198 $4,077 $18,628 
Other postretirement benefits:
Gross benefits paid331 315 292 267 276 1,063 
Subsidies
(9)(9)(9)(9)(9)(40)
Net other postretirement benefits$322 $306 $283 $258 $267 $1,023 
v3.25.0.1
Share-Based Compensation and Other Compensation Arrangements (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Plans Expense and Related Income Tax Benefit The share-based plans expense and related income tax benefit were as follows:
Years ended December 31,202420232022
Restricted stock units and other awards$409 $697 $726 
Income tax benefit (before consideration of valuation allowance)$107 $157 $178 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
Grant YearGrant DateExpected LifeExpected VolatilityRisk Free Interest RateGrant Date Fair Value Per Option
20222/16/20226.8 years36.6 %2.0 %$83.04 
Schedule of Stock Options Activity
Stock option activity for the year ended December 31, 2024 was as follows:
SharesWeighted Average Exercise Price Per OptionWeighted Average Remaining Contractual Life (Years)Aggregate Intrinsic Value
Number of shares under option:
Outstanding at beginning of year792,662$252.35 
Granted124,374200.83 
Exercised(1,953)124.98 
Forfeited(11,084)233.75 
Outstanding at end of year903,999$245.76 6.9$0 
Exercisable at end of year425,705$250.10 6.0$0 
Schedule of Restricted Stock Units Award Activity
RSU activity for the year ended December 31, 2024 was as follows:
Long-Term Incentive Program
Other
Number of units:
Outstanding at beginning of year5,349,490 765,510 
Granted2,174,064 176,483 
Forfeited(312,242)(28,197)
Distributed(870,741)(348,366)
Outstanding at end of year6,340,571 565,430 
Undistributed vested units897,643 33,550 
Unrecognized compensation cost$353$37
Weighted average remaining amortization period (years)
1.71.6
v3.25.0.1
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Common Stock Outstanding Roll Forward
The following table shows changes in each class of shares:
Common
stock
Treasury
stock
Mandatory convertible preferred stock
Balance at January 1, 20221,012,261,159 423,343,707  
Issued(8,877,047) 
Acquired204,723  
Balance at December 31, 20221,012,261,159 414,671,383  
Issued(13,651,201) 
Acquired1,725,954  
Balance at December 31, 20231,012,261,159 402,746,136  
Issued(140,120,845)5,750,000 
Acquired419,549  
Balance at December 31, 20241,012,261,159 263,044,840 5,750,000 
Schedule of Accumulated Other Comprehensive Income (Loss)
Changes in AOCI by component for the years ended December 31, 2024, 2023 and 2022 were as follows:
Currency Translation AdjustmentsUnrealized Gains and Losses on Certain Investments
Unrealized Gains and Losses on Derivative Instruments
Defined Benefit Pension Plans & Other Postretirement Benefits
Total (1)
Balance at January 1, 2022($105)$1 $6 ($11,561)($11,659)
Other comprehensive (loss)/income before reclassifications
(62)(1)(40)1,529 
(2)
1,426 
Amounts reclassified from AOCI
10 
(4)
673 
(3)
683 
Net current period Other comprehensive (loss)/income
(62)(1)(30)2,202 2,109 
Balance at December 31, 2022($167) ($24)($9,359)($9,550)
Other comprehensive income/(loss) before reclassifications
33 2 41 (722)
(2)
(646)
Amounts reclassified from AOCI(5)(104)
(3)
(109)
Net current period Other comprehensive income/(loss)
33 2 36 (826)(755)
Balance at December 31, 2023($134)$2 $12 ($10,185)($10,305)
Other comprehensive loss before reclassifications
(44)(258)(356)
(5)
(658)
Amounts reclassified from AOCI
35 13 48 
Net current period Other comprehensive loss
(44)(223)(343)(610)
Balance at December 31, 2024($178)$2 ($211)($10,528)($10,915)
(1)    Net of tax.
(2)    Primarily related to remeasurement of assets and benefit obligations related to the Company's pension and other postretirement benefit plans resulting in an actuarial (loss)/gain of ($722) and $1,533 (net of tax of $13 and ($22)) for the years ended December 31, 2023 and 2022. See Note 17.
(3)    Amounts reclassified from AOCI for the year ended December 31, 2023, primarily related to amortization of prior service credits totaling ($102) (net of tax of $1). Amounts reclassified from AOCI for the year ended December 31, 2022, primarily related to amortization of actuarial losses totaling $791 (net of tax of ($11)). These are included in net periodic pension cost. See Note 17.
(4)    Includes losses of $39 (net of tax of ($11)) from cash flow hedges reclassified to Other income, net because the forecasted transactions are not probable of occurring.
(5)    Primarily related to remeasurement of assets and benefit obligations related to the Company's pension and other postretirement benefit plans resulting in an actuarial loss of ($225) (net of tax of ($1)) and prior service credits of ($140) (net of tax of $0) for the year ended December 31, 2024. See Note 17.
Schedule of Conversion Rate Per Share of Mandatory Convertible Preferred Stock
The following table illustrates the conversion rate per share of Mandatory convertible preferred stock, subject to certain anti-dilution adjustments, based on the applicable market value of the common stock:
Applicable Market Value of Common StockConversion Rate per Share of Mandatory Convertible Preferred Stock
Greater than $171.5854
5.8280 shares of common stock
Equal to or less than $171.5854 but greater than or equal to $142.9797
Between 5.8280 and 6.9940 shares of common stock, determined by dividing $1,000 by the applicable market value
Less than $142.9797
6.9940 shares of common stock
v3.25.0.1
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Summary of Derivative Instruments [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The notional amounts and fair values of derivative instruments in the Consolidated Statements of Financial Position as of December 31 were as follows:
Notional
 amounts(1)
Other assetsAccrued
liabilities
202420232024202320242023
Derivatives designated as hedging instruments:
Foreign exchange contracts$5,139 $4,120 $23 $85 ($213)($63)
Commodity contracts388 514 65 83 (12)(8)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts103 254 1 1 (17)(32)
Commodity contracts129 115  (2)
Total derivatives$5,759 $5,003 89 169 (242)(105)
Netting arrangements(24)(47)24 47 
Net recorded balance$65 $122 ($218)($58)
(1)Notional amounts represent the gross contract/notional amount of the derivatives outstanding.
Schedule of Derivative Instruments, Gains/(Losses) in Statement of Financial Performance
(Losses)/gains associated with our hedging transactions and forward points recognized in Other comprehensive income are presented in the following table:
Years ended December 31, 202420232022
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts($248)$61 ($118)
Commodity contracts(10)(20)78 
Reclassification Out of Accumulated Other Comprehensive Income
(Losses)/gains associated with our hedging transactions and forward points reclassified from AOCI to earnings are presented in the following table:
Years ended December 31,202420232022
Foreign exchange contracts
Revenues($1)$1 
Costs and expenses(25)($15)7 
General and administrative(8)(17)(12)
Commodity contracts
Costs and expenses($7)$31 $31 
General and administrative expense6 7 10 
v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy.
December 31, 2024December 31, 2023
TotalLevel 1Level 2TotalLevel 1Level 2
Assets
Money market funds$6,475 $6,475 $1,514 $1,514 
Available-for-sale debt investments:
Commercial paper165 $165 291 $291 
Corporate notes335 335 183 183 
U.S. government agencies17 17 25 25 
Other equity investments9 9 44 44 
Derivatives65 65 122 122 
Total assets$7,066 $6,484 $582 $2,179 $1,558 $621 
Liabilities
Derivatives($218)($218)($58)($58)
Total liabilities($218)($218)($58)($58)
Fair Value, Assets Measured on Nonrecurring Basis Using Unobservable Inputs The following table presents the nonrecurring losses recognized for the years ended December 31 due to long-lived asset impairment and the fair value of the related assets as of the impairment date:
20242023
Fair Value
Total Losses
Fair Value
Total Losses
Property, plant and equipment$32 ($54)$14 ($26)
Investments (32) (18)
Other assets
6 (21) (2)
Operating lease equipment
15 (5) 
Total$53 ($112)$14 ($46)
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques
For Level 3 operating lease equipment that were measured at fair value on a nonrecurring basis during the period ended December 31, 2024, the following table presents the fair value of those assets as of the measurement date, valuation techniques and related unobservable inputs of those assets.
Fair
Value
Valuation
Technique
Unobservable InputRange
Median or Average
Operating lease equipment
$15Market approachAircraft value publications
$21 - $27(1)
Median $23
Aircraft condition adjustments
($8) - $0(2)
Net ($8)
(1)The range represents the sum of the highest and lowest values for all aircraft subject to fair value measurement, according to the third-party aircraft valuation publications that we use in our valuation process.
(2)The negative amount represents the sum, for all aircraft subject to fair value measurement, of all downward adjustments based on consideration of individual aircraft attributes and condition.
Fair Values and Related Carrying Values of Financial Instruments
The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the Consolidated Statements of Financial Position at December 31 were as follows:
December 31, 2024
Carrying AmountTotal Fair ValueLevel 1Level 2Level 3
Assets
Notes receivable, net$940 $953 $941 $12 
Liabilities
Debt, excluding finance lease obligations(53,625)(51,089)(51,089)
December 31, 2023
Carrying AmountTotal Fair ValueLevel 1Level 2Level 3
Assets
Notes receivable, net$257 $270 $270 
Liabilities
Debt, excluding finance lease obligations(52,055)(51,039)(51,039)
v3.25.0.1
Segment and Revenue Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
The following table reconciles segment Revenues to Segment operating (loss)/earnings:
BCABDSBGS
For the year ended December 31, 2022
Revenues$26,026 $23,162 $17,611 
Less:
Research and development expense, net1,510 945 119 
Other segment items(1)
26,857 25,761 14,765 
Segment operating (loss)/earnings($2,341)($3,544)$2,727 
For the year ended December 31, 2023
Revenues$33,901 $24,933 $19,127 
Less:
Research and development expense, net2,036 919 107 
Other segment items(1)
33,500 25,778 15,691 
Segment operating (loss)/earnings($1,635)($1,764)$3,329 
For the year ended December 31, 2024
Revenues$22,861 $23,918 $19,954 
Less:
Research and development expense, net2,386 917 132 
Other segment items(1)
28,444 28,414 16,204 
Segment operating (loss)/earnings($7,969)($5,413)$3,618 
(1)    Primarily includes costs of products and services and general and administrative expenses.
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area Revenues, including foreign military sales, are reported by customer location and consisted of the following:
Years ended December 31,202420232022
Asia$11,994 $10,013 $8,393 
Europe8,734 10,520 7,916 
Middle East4,635 6,594 5,047 
Oceania1,565 1,655 1,576 
Canada1,472 1,256 1,612 
Africa1,143 825 418 
Latin America, Caribbean and other1,246 1,524 2,412 
Total non-U.S. revenues30,789 32,387 27,374 
United States36,171 45,380 39,218 
Estimated potential concessions and other considerations to 737 MAX customers, net of insurance recoveries
(443)27 16 
Total revenues$66,517 $77,794 $66,608 
Schedule of Disaggregation of Revenue
BCA revenues by customer location consisted of the following:
Years ended December 31,
202420232022
Revenue from contracts with customers:
Asia$8,060 $6,328 $4,488 
Europe3,956 6,172 4,085 
Middle East2,012 4,311 2,003 
Other non-U.S.1,815 2,431 3,042 
Total non-U.S. revenues15,843 19,242 13,618 
United States7,326 14,501 12,275 
Estimated potential concessions and other considerations to 737 MAX customers, net of insurance recoveries
(443)27 16 
Total revenues from contracts with customers22,726 33,770 25,909 
Intersegment revenues, eliminated on consolidation135 131 117 
Total segment revenues$22,861 $33,901 $26,026 
Revenue recognized on fixed-price contracts100 %100 %100 %
Revenue recognized at a point in time99 %99 %99 %
BDS revenues on contracts with customers, based on the customer's location, consisted of the following:
Years ended December 31,
202420232022
Revenue from contracts with customers:
U.S. customers$18,589 $20,051 $17,144 
Non-U.S. customers(1)
5,329 4,882 6,018 
Total segment revenue from contracts with customers$23,918 $24,933 $23,162 
Revenue recognized over time99 %99 %99 %
Revenue recognized on fixed-price contracts54 %58 %60 %
Revenue from the U.S. government(1)
91 %91 %89 %
(1)Includes revenues earned from foreign military sales through the U.S. government.
BGS revenues consisted of the following:
Years ended December 31, 202420232022
Revenue from contracts with customers:
Commercial$11,736 $11,020 $9,560 
Government7,832 7,751 7,681 
Total revenues from contracts with customers19,568 18,771 17,241 
Intersegment revenues eliminated on consolidation386 356 370 
Total segment revenues$19,954 $19,127 $17,611 
Revenue recognized at a point in time53 %51 %50 %
Revenue recognized on fixed-price contracts86 %87 %88 %
Revenue from the U.S. government(1)
29 %30 %33 %
(1)Includes revenues earned from foreign military sales through the U.S. government.
Schedule of Unallocated Items and Eliminations Components of Unallocated items, eliminations and other income/(expense) are shown in the following table.
Years ended December 31,202420232022
Share-based plans$171 $62 ($114)
Deferred compensation(114)(188)117 
Amortization of previously capitalized interest(93)(95)(95)
Research and development expense, net(377)(315)(278)
Eliminations and other unallocated items(1,634)(1,223)(1,134)
Unallocated items, eliminations and other($2,047)($1,759)($1,504)
Components of Financial Accounting Standards and Cost Accounting Standards Adjustment These expenses are included in Other income, net. Components of FAS/CAS service cost adjustment are shown in the following table:
Years ended December 31,202420232022
Pension FAS/CAS service cost adjustment$811 $799 $849 
Postretirement FAS/CAS service cost adjustment293 257 294 
FAS/CAS service cost adjustment$1,104 $1,056 $1,143 
Reconciliation of Assets from Segment to Consolidated
Segment assets are summarized in the table below.
December 31,20242023
Commercial Airplanes$84,177 $77,047 
Defense, Space & Security15,350 14,921 
Global Services16,704 16,193 
Unallocated items, eliminations and other40,132 28,851 
Total$156,363 $137,012 
Schedule of Capital Expenditures by Segment
Capital Expenditures
Years ended December 31,202420232022
Commercial Airplanes$508 $420 $218 
Defense, Space & Security296 192 202 
Global Services212 127 130 
Unallocated items, eliminations and other1,214 788 672 
Total$2,230 $1,527 $1,222 
Schedule of Depreciation and Amortization Expense by Segment
Depreciation and Amortization
Years ended December 31,202420232022
Commercial Airplanes$400 $464 $554 
Defense, Space & Security
209 219 238 
Global Services304 320 346 
Centrally Managed Assets (1)
923 858 841 
Total$1,836 $1,861 $1,979 
(1)Amounts shown in the table represent depreciation and amortization expense recorded by the individual business segments. Depreciation and amortization for centrally managed assets are allocated to business segments based on usage and occupancy. In 2024, $705 was allocated to the primary business segments, of which $339, $289 and $77 was allocated to BCA, BDS and BGS, respectively. In 2023, $650 was allocated the primary business segments, of which $311, $264 and $75 was allocated to BCA, BDS and BGS, respectively. In 2022, $644 was allocated to the primary business segments, of which $361, $230 and $53 was allocated to BCA, BDS and BGS, respectively.
v3.25.0.1
Summary of Business Segment Data - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Total revenues $ 66,517 $ 77,794 $ 66,608
Segment operating (loss)/earnings (10,707) (773) (3,519)
Other income, net 1,222 1,227 1,058
Interest and debt expense (2,725) (2,459) (2,561)
Loss before income taxes (12,210) (2,005) (5,022)
Income tax benefit/(expense) 381 (237) (31)
Net loss (11,829) (2,242) (5,053)
Less: net loss attributable to noncontrolling interest (12) (20) (118)
Net loss attributable to Boeing shareholders (11,817) (2,222) (4,935)
Less: Mandatory convertible preferred stock dividends accumulated during the period 58
Net loss attributable to Boeing common shareholders (11,875) (2,222) (4,935)
Net loss attributable to Boeing common shareholders (11,875) (2,222) (4,935)
Operating Segments      
Segment Reporting Information [Line Items]      
Segment operating (loss)/earnings (9,764) (70) (3,158)
Operating Segments | Commercial Airplanes      
Segment Reporting Information [Line Items]      
Total revenues 22,861 33,901 26,026
Segment operating (loss)/earnings (7,969) (1,635) (2,341)
Operating Segments | Defense, Space & Security      
Segment Reporting Information [Line Items]      
Total revenues 23,918 24,933 23,162
Segment operating (loss)/earnings (5,413) (1,764) (3,544)
Operating Segments | Global Services      
Segment Reporting Information [Line Items]      
Total revenues 19,954 19,127 17,611
Segment operating (loss)/earnings 3,618 3,329 2,727
Other      
Segment Reporting Information [Line Items]      
Total revenues (216) (167) (191)
Unallocated items, eliminations and other 2,047 1,759 1,504
FAS/CAS service cost adjustment $ (1,104) $ (1,056) $ (1,143)
v3.25.0.1
Summary of Significant Accounting Policies - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
segment
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Schedule of Accounting Policies [Line Items]      
Number of reportable segments | segment 3    
Reinsurance revenues $ 110 $ 163 $ 129
Reinsurance costs 123 181 134
Research and development expense, net 3,812 3,377 2,852
Accounts payable 11,364 11,964  
Goodwill 8,084 8,093 8,057
Defense, Space & Security      
Schedule of Accounting Policies [Line Items]      
Goodwill 3,218 3,235 3,224
Defense, Space & Security | Military Aircraft      
Schedule of Accounting Policies [Line Items]      
Goodwill 1,295    
Commercial Airplanes      
Schedule of Accounting Policies [Line Items]      
Goodwill $ 1,328 1,319 1,316
Capitalized Internal Use Software      
Schedule of Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful lives (in years) 5 years    
Minimum | Developed technology      
Schedule of Accounting Policies [Line Items]      
Finite-lived acquired intangible assets, useful lives (in years) 4 years    
Minimum | Product know-how      
Schedule of Accounting Policies [Line Items]      
Finite-lived acquired intangible assets, useful lives (in years) 6 years    
Minimum | Customer base      
Schedule of Accounting Policies [Line Items]      
Finite-lived acquired intangible assets, useful lives (in years) 3 years    
Minimum | Distribution rights      
Schedule of Accounting Policies [Line Items]      
Finite-lived acquired intangible assets, useful lives (in years) 3 years    
Minimum | Other Intangible Assets      
Schedule of Accounting Policies [Line Items]      
Finite-lived acquired intangible assets, useful lives (in years) 1 year    
Minimum | Defense, Space & Security      
Schedule of Accounting Policies [Line Items]      
Standard warranty term 6 months    
Minimum | Commercial Airplanes      
Schedule of Accounting Policies [Line Items]      
Standard warranty term 3 years    
Minimum | Land, Buildings and Improvements      
Schedule of Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful lives (in years) 10 years    
Minimum | Machinery and equipment      
Schedule of Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful lives (in years) 4 years    
Maximum | Developed technology      
Schedule of Accounting Policies [Line Items]      
Finite-lived acquired intangible assets, useful lives (in years) 14 years    
Maximum | Product know-how      
Schedule of Accounting Policies [Line Items]      
Finite-lived acquired intangible assets, useful lives (in years) 30 years    
Maximum | Customer base      
Schedule of Accounting Policies [Line Items]      
Finite-lived acquired intangible assets, useful lives (in years) 17 years    
Maximum | Distribution rights      
Schedule of Accounting Policies [Line Items]      
Finite-lived acquired intangible assets, useful lives (in years) 27 years    
Maximum | Other Intangible Assets      
Schedule of Accounting Policies [Line Items]      
Finite-lived acquired intangible assets, useful lives (in years) 32 years    
Maximum | Defense, Space & Security      
Schedule of Accounting Policies [Line Items]      
Standard warranty term 2 years    
Maximum | Commercial Airplanes      
Schedule of Accounting Policies [Line Items]      
Standard warranty term 4 years    
Maximum | Land, Buildings and Improvements      
Schedule of Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful lives (in years) 40 years    
Maximum | Machinery and equipment      
Schedule of Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful lives (in years) 20 years    
Maximum | 7372 Services, Prepackaged Software      
Schedule of Accounting Policies [Line Items]      
Property, plant and equipment, estimated useful lives (in years) 10 years    
Bank Overdrafts      
Schedule of Accounting Policies [Line Items]      
Accounts payable $ 110 117  
Bid and Proposal Costs      
Schedule of Accounting Policies [Line Items]      
Research and development expense, net $ 179 $ 188 $ 217
v3.25.0.1
Summary of Significant Accounting Policies - Schedule of Change in Accounting Estimate (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]      
Decrease to Revenue $ (2,794) $ (1,706) $ (2,335)
Increase to Loss from operations $ (6,562) $ (2,943) $ (5,253)
Increase to Diluted loss per share (in dollars per share) $ (9.83) $ (5.43) $ (8.88)
v3.25.0.1
Spirit Acquisition (Details)
$ / shares in Units, $ in Millions
 12 Months Ended
Jun. 30, 2025
USD ($)
extension_period
$ / shares
shares
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Jan. 22, 2025
USD ($)
Business Acquisition [Line Items]        
Business combination, liability repayment, year one, adjustment   $ 425    
Subsequent Event        
Business Acquisition [Line Items]        
Business combination, amount due, liability       $ 515
Spirit AeroSystems Holdings, Inc.        
Business Acquisition [Line Items]        
Business combination, maximum financial support amount   1,067 $ 1,067  
Business combination, financial support amount, not yet drawn   166 166  
Business combination, other assets, current   539 0  
Business combination, other assets   299 143  
Business combination, inventory advance payment   $ 165 $ 223  
Forecast        
Business Acquisition [Line Items]        
Business combination, termination rights, number of three-month extension periods | extension_period 3      
Business combination, termination rights, cured duration 30 days      
Forecast | Spirit AeroSystems Holdings, Inc.        
Business Acquisition [Line Items]        
Business combination, consideration transferred $ 4,700      
Business acquisition, share price (in dollars per share) | $ / shares $ 37.25      
Business acquisition, trading day 15 days      
Business acquisition, buyer termination fee $ 300      
Forecast | Spirit AeroSystems Holdings, Inc. | Minimum        
Business Acquisition [Line Items]        
Business acquisition, exchange ratio 18.00%      
Business acquisition, floor price per share (in dollars per share) | $ / shares $ 149.00      
Business acquisition, equity interest issued or issuable, number of shares (in shares) | shares 0.25      
Forecast | Spirit AeroSystems Holdings, Inc. | Maximum        
Business Acquisition [Line Items]        
Business acquisition, exchange ratio 25.00%      
Business acquisition, ceiling price per share (in dollars per share) | $ / shares $ 206.94      
Business acquisition, equity interest issued or issuable, number of shares (in shares) | shares 0.18      
v3.25.0.1
Goodwill and Acquired Intangibles - Schedule of Goodwill by Reportable Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Goodwill, beginning balance $ 8,093 $ 8,057
Goodwill adjustments (10) 6
Goodwill, ending balance 8,084 8,093
Operating Segments    
Goodwill [Roll Forward]    
Acquisitions 18 30
Dispositions (17)  
Commercial Airplanes    
Goodwill [Roll Forward]    
Goodwill, beginning balance 1,319 1,316
Goodwill adjustments
Goodwill, ending balance 1,328 1,319
Commercial Airplanes | Operating Segments    
Goodwill [Roll Forward]    
Acquisitions 9 3
Dispositions  
Defense, Space & Security    
Goodwill [Roll Forward]    
Goodwill, beginning balance 3,235 3,224
Goodwill adjustments
Goodwill, ending balance 3,218 3,235
Defense, Space & Security | Operating Segments    
Goodwill [Roll Forward]    
Acquisitions 11
Dispositions (17)  
Global Services    
Goodwill [Roll Forward]    
Goodwill, beginning balance 3,454 3,432
Goodwill adjustments (10) 6
Goodwill, ending balance 3,444 3,454
Global Services | Operating Segments    
Goodwill [Roll Forward]    
Acquisitions 16
Dispositions  
Other    
Goodwill [Roll Forward]    
Goodwill, beginning balance 85 85
Goodwill adjustments
Goodwill, ending balance 94 85
Other | Operating Segments    
Goodwill [Roll Forward]    
Acquisitions 9
Dispositions  
v3.25.0.1
Goodwill and Acquired Intangibles - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]    
Carrying amount of indefinite-lived intangible assets relating to trade names $ 197 $ 197
Carrying amount of indefinite-lived research and development 202 202
Amortization of intangible assets $ 223 $ 235
v3.25.0.1
Goodwill and Acquired Intangibles - Schedule of Finite-Lived Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 5,213 $ 5,373
Accumulated Amortization 3,655 3,678
Distribution rights    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 2,501 2,545
Accumulated Amortization 1,554 1,566
Product know-how    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 546 552
Accumulated Amortization 475 465
Customer base    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 1,315 1,358
Accumulated Amortization 851 837
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 573 638
Accumulated Amortization 528 569
Other    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 278 280
Accumulated Amortization $ 247 $ 241
v3.25.0.1
Goodwill and Acquired Intangibles - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2025 $ 207
2026 202
2027 182
2028 155
2029 $ 155
v3.25.0.1
Earnings Per Share - Schedule of Weighted Average Number of Shares (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings Per Share [Abstract]      
Net loss attributable to Boeing shareholders $ (11,817) $ (2,222) $ (4,935)
Less: Mandatory convertible preferred stock dividends accumulated during the period 58
Less: earnings available to participating securities, basic
Less: earnings available to participating securities, diluted
Net loss attributable to Boeing common shareholders (11,875) (2,222) (4,935)
Net loss attributable to Boeing common shareholders $ (11,875) $ (2,222) $ (4,935)
Basic weighted average shares outstanding (in shares) 647.2 606.1 595.2
Participating securities (in shares) 0.3 0.3 0.3
Basic weighted average common shares outstanding (in shares) 646.9 605.8 594.9
Diluted weighted average shares outstanding (in shares) 647.2 606.1 595.2
Participating securities (in shares) 0.3 0.3 0.3
Diluted weighted average common shares outstanding (in shares) 646.9 605.8 594.9
Basic net loss per share (in dollars per share) $ (18.36) $ (3.67) $ (8.30)
Diluted net loss per share (in dollars per share) $ (18.36) $ (3.67) $ (8.30)
v3.25.0.1
Earnings Per Share - Schedule of Weighted Average Number of Shares Outstanding Excluded from the Computation of Diluted Earnings Per Share (Details) - Antidilutive or Performance Condition not Met - shares
shares in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Performance-based restricted stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Shares excluded from the computation of diluted earnings (in shares) 0.4
Performance restricted stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Shares excluded from the computation of diluted earnings (in shares) 0.7
Restricted stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Shares excluded from the computation of diluted earnings (in shares) 0.5 1.0
Stock options      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Shares excluded from the computation of diluted earnings (in shares) 0.8 0.8 0.8
v3.25.0.1
Earnings Per Share - Narrative (Details) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Antidilutive due to Net Loss      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Shares excluded from the computation of diluted earnings (in shares) 11.6 5.7 3.5
v3.25.0.1
Income Taxes - Components of Earnings Before Income Taxes Between Domestic and Foreign Jurisdictions (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
U.S. $ (12,813) $ (2,512) $ (5,457)
Non-U.S. 603 507 435
Loss before income taxes $ (12,210) $ (2,005) $ (5,022)
v3.25.0.1
Income Taxes - Schedule of Income Tax Expense/(Benefit) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current tax (benefit)/expense      
U.S. federal $ (277) $ 9 $ (58)
Non-U.S. 184 179 142
U.S. state 14 19 (42)
Total current (79) 207 42
Deferred tax (benefit)/expense      
U.S. federal (71) 6 (62)
Non-U.S. 3 5 (3)
U.S. state (234) 19 54
Total deferred (302) 30 (11)
Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Total income tax (benefit)/expense $ (381) $ 237 $ 31
v3.25.0.1
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Net income tax payments/(refunds) $ 187 $ 204 $ (1,317)
Deferred tax assets 17,991 14,743  
Deferred tax liabilities 10,091 10,363  
Valuation allowance 7,837 4,550  
Valuation allowance, deferred tax asset, increase (decrease), amount 3,287    
Unrecognized tax benefits that would affect the effective tax rate, if recognized $ 651 $ 1,088 $ 878
v3.25.0.1
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Amount        
U.S. federal statutory tax   $ (2,564) $ (421) $ (1,054)
Valuation allowance   3,145 1,150 1,199
Federal audit settlement   (490)    
Research and development credits   (409) (472) (204)
State income tax provision, net of effects on U.S. federal tax   (223) (75) (90)
Tax on non-U.S. activities   113 35 64
Impact of subsidiary shares purchased from noncontrolling interests     (29)  
Other provision adjustments   47 49 116
Total income tax (benefit)/expense   $ (381) $ 237 $ 31
Rate        
U.S. federal statutory tax   21.00% 21.00% 21.00%
Valuation allowance   (25.80%) (57.30%) (23.90%)
Federal audit settlement   4.00%    
Research and development credits   3.30% 23.60% 4.10%
State income tax provision, net of effects on U.S. federal tax   1.80% 3.70% 1.80%
Tax on non-U.S. activities   (0.90%) (1.80%) (1.30%)
Impact of subsidiary shares purchased from noncontrolling interests     1.50%  
Other provision adjustments   (0.30%) (2.50%) (2.30%)
Effective income tax rate   3.10% (11.80%) (0.60%)
Effective income tax rate reconciliation, tax contingency, amount $ 490      
Deferred tax assets, valuation allowance expense $ 155      
v3.25.0.1
Income Taxes - Significant Components of Deferred Tax Assets Net of Deferred Tax Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Valuation Allowance [Line Items]    
Inventory and long-term contract methods of income recognition $ (4,765) $ (5,115)
Research expenditures 3,936 2,873
Fixed assets, intangibles and goodwill (1,526) (1,566)
Other employee benefits 1,049 1,162
Pension benefits 1,045 1,178
Accrued expenses and reserves 1,029 956
Other postretirement benefit obligations 587 590
Other 473 614
Gross deferred tax assets/(liabilities) before valuation allowance 7,900 4,380
Valuation allowance (7,837) (4,550)
Net deferred tax assets after valuation allowance 63  
Net deferred tax liabilities after valuation allowance   (170)
Federal Tax Authority    
Valuation Allowance [Line Items]    
Federal and state net operating loss, credit, interest and other carryovers 4,719 2,551
Deferred tax asset for net operating loss and credit carryovers each year through December 31, 2044 1,848  
Deferred tax asset for net operating loss and credit carryovers indefinitely 2,871  
State Tax Authority    
Valuation Allowance [Line Items]    
Federal and state net operating loss, credit, interest and other carryovers 1,353 $ 1,137
Deferred tax asset for net operating loss and credit carryovers each year through December 31, 2044 686  
Deferred tax asset for net operating loss and credit carryovers indefinitely $ 667  
v3.25.0.1
Income Taxes - Net Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]    
Deferred tax assets $ 17,991 $ 14,743
Deferred tax liabilities (10,091) (10,363)
Valuation allowance (7,837) (4,550)
Net deferred tax assets after valuation allowance $ 63  
Net deferred tax liabilities after valuation allowance   $ (170)
v3.25.0.1
Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits – January 1 $ 1,131 $ 915 $ 858
Gross increases – tax positions in prior periods 38 17
Gross decreases – tax positions in prior periods (453) (3) (51)
Gross increases – current period tax positions 216 181 91
Gross decreases – current period tax positions
Settlements (206)
Unrecognized tax benefits – December 31 $ 688 $ 1,131 $ 915
v3.25.0.1
Accounts Receivable, net - Schedule of Accounts Receivable (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounts Receivables [Line Items]      
Less valuation allowance $ (92) $ (89) $ (116)
Total 2,631 2,649  
U.S. government contracts      
Accounts Receivables [Line Items]      
Accounts receivable, before allowance for credit loss, current 923 970  
Commercial Airplanes      
Accounts Receivables [Line Items]      
Accounts receivable, before allowance for credit loss, current 48 57  
Global Services      
Accounts Receivables [Line Items]      
Accounts receivable, before allowance for credit loss, current 1,581 1,526  
Defense, Space, & Security      
Accounts Receivables [Line Items]      
Accounts receivable, before allowance for credit loss, current 165 160  
Other      
Accounts Receivables [Line Items]      
Accounts receivable, before allowance for credit loss, current $ 6 $ 25  
v3.25.0.1
Allowance for Losses on Financial Assets - Schedule of Financial Assets, Allowance for Credit Loss (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Contract with Customer, Asset, Allowance for Credit Loss [Roll Forward]    
Account receivable, allowance for credit loss, beginning balance $ (89) $ (116)
Unbilled receivables, allowance for credit loss, beginning balance (19) (23)
Allowance for credit loss, beginning balance (331) (367)
Customer financing, allowance for credit loss, beginning balance (51) (55)
Accounts receivable, changes in estimates (45) (6)
Unbilled receivables, changes in estimates (19) 4
Changes in estimates (113) (2)
Customer financing, changes in estimates 44 4
Accounts receivable, write-offs 41 29
Write-offs 60 34
Accounts receivable, recovery 1 4
Recoveries 1 4
Account receivable, allowance for credit loss, ending balance (92) (89)
Unbilled receivables, allowance for credit loss, ending balance (38) (19)
Allowance for credit loss, ending balance (383) (331)
Customer financing, allowance for credit loss, ending balance (7) (51)
Other Current Assets    
Contract with Customer, Asset, Allowance for Credit Loss [Roll Forward]    
Changes in estimates 8 30
Write-offs 11 5
Other Assets    
Contract with Customer, Asset, Allowance for Credit Loss [Roll Forward]    
Changes in estimates (85) (34)
Write-offs 8  
Other Current Assets    
Contract with Customer, Asset, Allowance for Credit Loss [Roll Forward]    
Allowance for credit loss, beginning balance (50) (85)
Allowance for credit loss, ending balance (47) (50)
Other Assets    
Contract with Customer, Asset, Allowance for Credit Loss [Roll Forward]    
Allowance for credit loss, beginning balance (122) (88)
Allowance for credit loss, ending balance $ (199) $ (122)
v3.25.0.1
Inventories - Schedule of Inventory, Current (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Inventory Disclosure [Abstract]    
Commercial aircraft programs $ 75,192 $ 68,683
Long-term contracts in progress 752 686
Capitalized precontract costs 1,176 946
Commercial spare parts, used aircraft, general stock materials and other 10,430 9,426
Total $ 87,550 $ 79,741
v3.25.0.1
Inventories - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Inventories [Line Items]      
777X and 767 reach-forward losses $ 4,079
Early Issue Sales Consideration      
Inventories [Line Items]      
Inventory subject to uncertainty 5,837 4,126  
Airplane Program 737      
Inventories [Line Items]      
Deferred production costs 9,679 6,011  
Unamortized tooling and other non-recurring costs 909 792  
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from firm orders at the balance sheet date 10,542    
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from future orders 46    
Airplane Program 777x      
Inventories [Line Items]      
Deferred production costs 0 1,792  
Unamortized tooling and other non-recurring costs 4,122 4,063  
Inventory, work in process 3,476 4,638  
Abnormal production costs 0 513 325
777X and 767 reach-forward losses 3,499    
Airplane Program 787      
Inventories [Line Items]      
Deferred production costs 13,178 12,384  
Unamortized tooling and other non-recurring costs 1,370 1,480  
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from firm orders at the balance sheet date 11,224    
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from future orders 3,324    
Abnormal production costs 256 1,014 $ 1,240
Supplier advances $ 1,379 $ 1,764  
v3.25.0.1
Contracts with Customers - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Schedule of Contract Assets and Liabilities [Line Items]    
Unbilled receivables, net $ 8,363 $ 8,317
Advances and progress billings 60,333 56,328
Contract with customer, liability, revenue recognized 14,516 15,298
Commercial    
Schedule of Contract Assets and Liabilities [Line Items]    
Unbilled receivables, expected to be collected after one year $ 63 $ 42
v3.25.0.1
Contracts with Customers - Schedule of Unbilled Receivables and Claims) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Contracts with Customers [Abstract]      
Contract with customers, unbilled, current $ 6,348 $ 6,565  
Contract with customers, expected to be collected after one year 2,053 1,771  
Contract with customers, less valuation allowance (38) (19) $ (23)
Total unbilled receivables 8,363 8,317  
Contracts with customers, claims, current 9 6  
Contract with customers, claims, expected to be collected after one year 51 40  
Total claims receivables $ 60 $ 46  
v3.25.0.1
Financing Receivables and Operating Lease Equipment - Schedule of Financing Receivables and Operating Lease Equipment, Net (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivables and Operating Lease Equipment [Abstract]      
Investment in sales-type leases $ 203 $ 556  
Notes 85 102  
Total financing receivables 288 658  
Less allowance for losses on receivables 7 51 $ 55
Financing receivables, net 281 607  
Operating lease equipment, at cost, less accumulated depreciation of $46 and $70 240 352  
Total 521 959  
Operating lease equipment, accumulated depreciation $ 46 $ 70  
v3.25.0.1
Financing Receivables and Operating Lease Equipment - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivables and Operating Lease Equipment [Line Items]      
Investment in sales-type leases $ 203 $ 556  
Financing receivable, nonaccrual, no allowance 7 44  
Financing receivable, nonaccrual, interest income 7 108  
Financing receivable, 90 days or more past due, still accruing 0 9  
Investment/asset impairment charges, net 112 46 $ 112
Sales-type and direct financing leases, lease income 45 55 69
Operating lease, lease income $ 56 $ 60 $ 65
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration] Total revenues Total revenues Total revenues
Sales-type and direct financing leases, profit (loss) $ 9 $ 32 $ 28
Unguaranteed residual assets 0 21  
Operating Lease Assets      
Financing Receivables and Operating Lease Equipment [Line Items]      
Investment/asset impairment charges, net $ 5 $ 0 $ 7
CCC      
Financing Receivables and Operating Lease Equipment [Line Items]      
Percentage of credit default rates applied to customers 100.00%    
B      
Financing Receivables and Operating Lease Equipment [Line Items]      
Percentage of credit default rates applied to customers 0.00%    
BBB      
Financing Receivables and Operating Lease Equipment [Line Items]      
Percentage of credit default rates applied to customers 0.10%    
Repaid In One Year Or Less      
Financing Receivables and Operating Lease Equipment [Line Items]      
Investment in sales-type leases $ 196    
Lessor, sales-type lease, term 1 year    
Minimum      
Financing Receivables and Operating Lease Equipment [Line Items]      
Lessee, finance lease, term of contract (in years) 1 year    
Maximum      
Financing Receivables and Operating Lease Equipment [Line Items]      
Lessee, finance lease, term of contract (in years) 8 years    
v3.25.0.1
Financing Receivables and Operating Lease Equipment - Components of Investment in Sales-Type or Finance Leases (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivables and Operating Lease Equipment [Abstract]    
Gross lease payments receivable $ 229 $ 697
Unearned income (26) (162)
Net lease payments receivable 203 535
Unguaranteed residual assets 0 21
Total $ 203 $ 556
v3.25.0.1
Financing Receivables and Operating Lease Equipment - Financing Receivable Credit Quality Indicators (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]    
Current  
2023 32  
2022 28  
2021 129  
2020 5  
Prior 94  
Total financing receivables 288 $ 658
BBB    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current  
2023 32  
2022 28  
2021 122  
2020 5  
Prior 9  
Total financing receivables 196  
B    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current  
2023  
2022  
2021  
2020  
Prior 85  
Total financing receivables 85  
CCC    
Financing Receivable, Credit Quality Indicator [Line Items]    
Current  
2023  
2022  
2021 7  
2020  
Prior  
Total financing receivables $ 7  
v3.25.0.1
Financing Receivables and Operating Lease Equipment - Schedule of Customer Financing Carrying Values Related to Major Aircraft Concentrations (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
B-717 Aircraft    
Financing Receivables and Operating Lease Equipment [Line Items]    
Gross customer financing $ 196 $ 478
B-777 Aircraft    
Financing Receivables and Operating Lease Equipment [Line Items]    
Gross customer financing 183 194
B-747-8 Aircraft    
Financing Receivables and Operating Lease Equipment [Line Items]    
Gross customer financing 92 129
B-737 Aircraft    
Financing Receivables and Operating Lease Equipment [Line Items]    
Gross customer financing 47 156
B-747-400 Aircraft    
Financing Receivables and Operating Lease Equipment [Line Items]    
Gross customer financing $ 43
v3.25.0.1
Financing Receivables and Operating Lease Equipment - Scheduled Receipts on Customer Financing (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Notes receivable    
Year 1 $ 9  
Year 2 10  
Year 3 11  
Year 4 12  
Year 5 13  
Thereafter 30  
Total financing receipts 85  
Sales-type leases    
Year 1 189  
Year 2 13  
Year 3 13  
Year 4 14  
Year 5  
Thereafter  
Total financing receipts 229 $ 697
Less imputed interest (26)  
Total 203 $ 556
Operating leases    
Year 1 47  
Year 2 39  
Year 3 34  
Year 4 32  
Year 5 13  
Thereafter  
Total financing receipts $ 165  
v3.25.0.1
Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment $ 34,337 $ 32,906
Less accumulated depreciation (22,925) (22,245)
Total 11,412 10,661
Land    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment 353 377
Buildings and land improvements    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment 14,985 14,795
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment 16,660 16,055
Construction in progress    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment $ 2,339 $ 1,679
v3.25.0.1
Property, Plant and Equipment - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]      
Property, plant and equipment additions, non-cash $ 76 $ 124  
Property, plant and equipment included in accounts payable 591 498  
Property, plant and equipment      
Property, Plant and Equipment [Line Items]      
Depreciation $ 1,349 $ 1,328 $ 1,396
v3.25.0.1
Investments - Schedule of Investments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investments [Abstract]      
Time deposits $ 11,960 $ 2,753  
Equity method investments 948 966  
Available-for-sale debt investments 517 499  
Equity and other investments 34 69  
Restricted cash and cash equivalents 21 22 $ 33
Total 13,480 4,309  
Dividends received from equity method investments 55 31  
Undistributed earnings from equity method investments $ 141 $ 110  
v3.25.0.1
Investments - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]      
Contributions to investments $ 13,856 $ 16,448 $ 5,051
Proceeds from investments 4,743 15,739 10,619
Time Deposits      
Schedule of Equity Method Investments [Line Items]      
Contributions to investments 13,258 15,794 4,358
Proceeds from investments $ 4,053 $ 15,140 $ 9,943
v3.25.0.1
Investments - Schedule of Equity Method Investments (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]    
Equity method investments $ 948 $ 966
Defense, Space & Security | United Launch Alliance    
Schedule of Equity Method Investments [Line Items]    
Equity method investment, ownership percentage 50.00% 50.00%
Equity method investments $ 557 $ 582
BCA, BDS, BGS and Other    
Schedule of Equity Method Investments [Line Items]    
Equity method investments $ 391 $ 384
v3.25.0.1
Leases - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Lessee, Lease, Description [Line Items]      
Operating lease, cost $ 530 $ 457 $ 421
Variable lease, cost 75 76 75
Operating lease, payments 408 323 294
Right-of-use asset obtained in exchange for operating lease liability 490 $ 488 $ 245
Unrecorded unconditional purchase obligation $ 15    
Minimum      
Lessee, Lease, Description [Line Items]      
Lessee, operating lease, lease not yet commenced, term of contract 3 years    
Maximum      
Lessee, Lease, Description [Line Items]      
Lessee, operating lease, lease not yet commenced, term of contract 10 years    
v3.25.0.1
Leases - Schedule of Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Operating lease right-of-use assets $ 1,984 $ 1,690
Current portion of lease liabilities 324 296
Non-current portion of lease liabilities 1,770 1,518
Total operating lease liabilities $ 2,094 $ 1,814
Weighted average remaining lease term (years) 12 years 11 years
Weighted average discount rate 3.43% 3.21%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Long-term debt Long-term debt
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Liabilities, Current Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other long-term liabilities Other long-term liabilities
v3.25.0.1
Leases - Schedule of Maturities of Operating Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
2025 $ 421  
2026 373  
2027 318  
2028 263  
2029 194  
Thereafter 1,285  
Total lease payments 2,855  
Less imputed interest (761)  
Total operating lease liabilities $ 2,094 $ 1,814
v3.25.0.1
Liabilities, Commitments and Contingencies - Schedule of Accrued Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]      
Forward loss recognition $ 7,634 $ 4,699  
Accrued compensation and employee benefit costs 6,110 6,721  
Product warranties 2,133 2,448 $ 2,275
Environmental 834 844 $ 752
Accrued interest payable 796 652  
Other customer concessions and considerations 1,552 1,300  
Current portion of retiree healthcare and pension liabilities 452 473  
Current portion of lease liabilities 324 296  
Other 3,627 3,571  
Accrued liabilities $ 24,103 $ 22,331  
v3.25.0.1
Liabilities, Commitments and Contingencies - Narrative (Details)
$ in Millions
 3 Months Ended 12 Months Ended 84 Months Ended
Dec. 31, 2024
USD ($)
aircraft
Sep. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
aircraft
Sep. 30, 2018
USD ($)
aircraft
Dec. 31, 2024
USD ($)
aircraft
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2016
USD ($)
lot
aircraft
Dec. 31, 2018
USD ($)
simulator
aircraft
Dec. 31, 2011
lot
aircraft
tanker
Loss Contingencies [Line Items]                      
Amount by which estimated range of reasonably possible remediation costs exceeded recorded liabilities $ 1,002         $ 1,002 $ 1,030        
Contingent liabilities on outstanding letters of credit agreements and surety bonds 2,991         2,991 4,548        
Cash surrender value of life insurance policies 342         342 360        
Total value of loans against underlying life insurance policies 314         314 334        
Government assistance, liability $ 40         $ 40          
Government Assistance, Liability, Statement of Financial Position [Extensible Enumeration] Other long-term liabilities         Other long-term liabilities          
Offsetting capital lease obligation and IRB asset $ 355         $ 355 333        
Capital investment, amount $ 500         $ 500          
Number of commercial aircraft | aircraft 2         2          
Severance costs $ 295                    
Employee Severance                      
Loss Contingencies [Line Items]                      
Restructuring reserve 287         $ 287          
VC-25B                      
Loss Contingencies [Line Items]                      
Contract value 4,000         4,000          
Increase (decrease) in earnings from operations due to change in accounting estimate. (129)   $ (250)     (379) (482)        
KC-46A Tanker                      
Loss Contingencies [Line Items]                      
Revenue from contract with customer, excluding assessed tax 822                    
Contract value 29,000         29,000          
Increase (decrease) in earnings from operations due to change in accounting estimate.   $ (661) (391) $ (128)   (2,002) (309)        
Number of generation aerial refueling tanker | tanker                     4
Number of annual production lot | lot                     13
Number of aircraft | aircraft                 154   179
Number of low rate initial production lot | lot                 11    
MQ-25                      
Loss Contingencies [Line Items]                      
Contract value         $ 890            
Increase (decrease) in earnings from operations due to change in accounting estimate. $ (122) (217)     $ 291 $ (339) (231)        
Number of aircraft | aircraft         7            
Cost-type contract modification, awarded amount       $ 657              
Number of additional test aircraft | aircraft       2              
T-7A EMD                      
Loss Contingencies [Line Items]                      
Contract value                   $ 860  
Number of aircraft | aircraft 5         5       5  
Number of simulator | simulator                   7  
Services probable of being exercised, number of aircrafts | aircraft                   346  
T-7A Production                      
Loss Contingencies [Line Items]                      
Increase (decrease) in earnings from operations due to change in accounting estimate.           $ (1,770)          
T-7A EMD and Production                      
Loss Contingencies [Line Items]                      
Increase (decrease) in earnings from operations due to change in accounting estimate. $ (490) $ (908) $ (278) $ (94)     (275)        
Commercial Crew                      
Loss Contingencies [Line Items]                      
Increase (decrease) in earnings from operations due to change in accounting estimate.           (523) (288)        
SOUTH CAROLINA                      
Loss Contingencies [Line Items]                      
Cash grants, amount                 $ 346    
Inventory, amortization           9 10        
SOUTH CAROLINA | Accrued Liabilities                      
Loss Contingencies [Line Items]                      
Income tax (expense) benefit, continuing operations, government grants           87 97        
SOUTH CAROLINA | Inventories                      
Loss Contingencies [Line Items]                      
Income tax (expense) benefit, continuing operations, government grants           64 62        
SOUTH CAROLINA | Cost of Sales                      
Loss Contingencies [Line Items]                      
Income tax (expense) benefit, continuing operations, government grants           7 12        
State of Missouri and City Of Irving, Texas                      
Loss Contingencies [Line Items]                      
Cash grants, amount           26 22 $ 30      
Other receivables, net, current $ 30         30 26        
Proceeds from income tax refunds           63          
State of Missouri and City Of Irving, Texas | Cost of Sales                      
Loss Contingencies [Line Items]                      
Income tax (expense) benefit, continuing operations, government grants           $ 30 28 21      
Queensland, Australia | Cost of Sales                      
Loss Contingencies [Line Items]                      
Cash grants, amount             5 $ 7      
Minimum | Supplier Finance Program, Majority of Amounts Payable                      
Loss Contingencies [Line Items]                      
Supplier finance program, payment timing, period 30 days         30 days          
Maximum                      
Loss Contingencies [Line Items]                      
Supplier finance program, payment timing, period 12 months         12 months          
Maximum | Supplier Finance Program, Majority of Amounts Payable                      
Loss Contingencies [Line Items]                      
Supplier finance program, payment timing, period 90 days         90 days          
Financing Commitment                      
Loss Contingencies [Line Items]                      
Other commitment $ 17,124         $ 17,124 17,003        
Financing Commitment | External Credit Rating, Noninvestment Grade                      
Loss Contingencies [Line Items]                      
Other commitment 13,798         13,798          
Joint Venture                      
Loss Contingencies [Line Items]                      
Other commitment $ 261         $ 261          
Other commitment, period 8 years         8 years          
Total Contractual Trade in Value Maximum | Commercial Aircraft Commitments                      
Loss Contingencies [Line Items]                      
Other commitment $ 1,393         $ 1,393 1,415        
Net Amounts Payable to Customers Related to Probable Contractual Trade-in Commitments | Commercial Aircraft Commitments                      
Loss Contingencies [Line Items]                      
Other commitment 275         275 407        
Probable Contractual Trade in Value | Commercial Aircraft Commitments                      
Loss Contingencies [Line Items]                      
Other commitment 270         270 $ 407        
Contingent on Customer Negotiations                      
Loss Contingencies [Line Items]                      
737 MAX customer concessions and other considerations 92         92          
Cash Payments to Customers                      
Loss Contingencies [Line Items]                      
737 MAX customer concessions and other considerations 124         124          
Alaska Airlines 737-9 Accident And 737-9 Grounding                      
Loss Contingencies [Line Items]                      
Revenue from contract with customer, excluding assessed tax           443          
Capitalized Precontract Costs | KC-46A Tanker                      
Loss Contingencies [Line Items]                      
Capitalized precontract costs 85         85          
Capitalized Precontract Costs | T-7A Production                      
Loss Contingencies [Line Items]                      
Capitalized precontract costs 315         315          
Capitalized Precontract Costs | Commercial Crew                      
Loss Contingencies [Line Items]                      
Capitalized precontract costs 398         398          
Potential Termination Liabilities | KC-46A Tanker                      
Loss Contingencies [Line Items]                      
Capitalized precontract costs 132         132          
Potential Termination Liabilities | T-7A Production                      
Loss Contingencies [Line Items]                      
Capitalized precontract costs 632         632          
Potential Termination Liabilities | Commercial Crew                      
Loss Contingencies [Line Items]                      
Capitalized precontract costs $ 150         $ 150          
v3.25.0.1
Liabilities, Commitments, and Contingencies - Schedule of 737 Max Customer Concessions and Other Considerations Liability (Details) - B-737 Aircraft - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Customer Concession And Other Consideration Liability [Roll Forward]    
Beginning balance – January 1 $ 1,327 $ 1,864
Reductions for payments made (929) (449)
Reductions for concessions and other in-kind considerations (267) (61)
Changes in estimates 510 (27)
Ending balance – December 31 $ 641 $ 1,327
v3.25.0.1
Liabilities, Commitments and Contingencies - Schedule of Environmental Remediation Activity (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Accrual for Environmental Loss Contingencies [Roll Forward]    
Beginning balance – January 1 $ 844 $ 752
Reductions for payments made, net of recoveries (120) (79)
Changes in estimates 110 171
Ending balance – December 31 $ 834 $ 844
v3.25.0.1
Liabilities, Commitments and Contingencies - Schedule of Product Warranty Activity (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]    
Beginning balance – January 1 $ 2,448 $ 2,275
Additions for current year deliveries 81 164
Reductions for payments made (392) (320)
Changes in estimates (4) 329
Ending balance – December 31 $ 2,133 $ 2,448
v3.25.0.1
Liabilities, Commitments and Contingencies - Schedule of Contractual Obligation, Fiscal Year Maturity (Details) - Financing Commitment - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Other Commitments, Fiscal Year Maturity [Line Items]    
2025 $ 3,449  
2026 3,938  
2027 3,735  
2028 2,273  
2029 1,773  
Thereafter 1,956  
Total $ 17,124 $ 17,003
v3.25.0.1
Liabilities, Commitments and Contingencies - Schedule of Supplier Finance Program (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Financing Commitments [Line Items]    
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] Accounts payable Accounts payable
Supply Chain Financing Programs    
Supplier Finance Program, Obligation [Roll Forward]    
Beginning balance – January 1 $ 2,871  
Additions 12,476  
Reductions for payments made (12,644)  
Ending balance – December 31 $ 2,703  
v3.25.0.1
Arrangements with Off-Balance Sheet Risk - Schedule of Guarantor Obligations (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Contingent repurchase commitments    
Guarantor Obligations [Line Items]    
Maximum Potential Payments $ 295 $ 404
Estimated Proceeds from Collateral/ Recourse 295 404
Carrying Amount of Liabilities
Credit guarantees    
Guarantor Obligations [Line Items]    
Maximum Potential Payments 15 15
Estimated Proceeds from Collateral/ Recourse
Carrying Amount of Liabilities $ 14 $ 14
v3.25.0.1
Debt - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
May 15, 2024
Debt Instrument [Line Items]          
Line of credit facility, expiration period   5 years      
Interest costs incurred   $ 2,874 $ 2,560 $ 2,650  
Interest paid, including capitalized interest, operating and investing activities   2,440 2,408 2,572  
Interest paid, capitalized, investing activities   149 $ 101 $ 89  
Thereafter   37      
364 Day Revolving Credit Facility - Expiring August 2024          
Debt Instrument [Line Items]          
Line of credit facility, maximum borrowing capacity $ 800        
364 Day Revolving Credit Facility - Expiring August 2024 | Line of Credit          
Debt Instrument [Line Items]          
Line of credit facility, expiration period 364 days        
Five Year Credit Facility - Expiring October 2024          
Debt Instrument [Line Items]          
Line of credit facility, maximum borrowing capacity $ 3,200        
Revolving Credit Facility          
Debt Instrument [Line Items]          
Line of credit facility, maximum borrowing capacity   10,000      
Line of Credit | Five Year Credit Facility Expiring - May 2029          
Debt Instrument [Line Items]          
Line of credit facility, maximum borrowing capacity         $ 4,000
Line of credit facility, expiration period 5 years        
Line of Credit | Five Year Credit Facility - Expiring October 2024          
Debt Instrument [Line Items]          
Line of credit facility, expiration period 5 years        
Line of Credit | Five Year Credit Facility - Expiring August 2025          
Debt Instrument [Line Items]          
Line of credit facility, maximum borrowing capacity   $ 3,000      
Line of credit facility, expiration period   3 years      
Line of Credit | Five Year Credit Facility Expiring - August 2028          
Debt Instrument [Line Items]          
Line of credit facility, maximum borrowing capacity   $ 3,000      
Line of credit facility, expiration period   5 years      
Senior Unsecured Notes | Senior Notes          
Debt Instrument [Line Items]          
Debt instrument, face amount $ 10,000        
Proceeds from debt, net of issuance costs 9,900        
Unsecured Senior Notes Due May 2027 | Senior Notes          
Debt Instrument [Line Items]          
Long-term debt, gross $ 1,000        
Debt instrument, interest rate, stated percentage 6.259%        
Unsecured Senior Notes Due May 2029 | Senior Notes          
Debt Instrument [Line Items]          
Long-term debt, gross $ 1,500        
Debt instrument, interest rate, stated percentage 6.298%        
Unsecured Senior Notes Due May 2031 | Senior Notes          
Debt Instrument [Line Items]          
Long-term debt, gross $ 1,000        
Debt instrument, interest rate, stated percentage 6.388%        
Unsecured Senior Notes Due May 2034 | Senior Notes          
Debt Instrument [Line Items]          
Long-term debt, gross $ 2,500        
Debt instrument, interest rate, stated percentage 6.528%        
Unsecured Senior Notes Due May 2054 | Senior Notes          
Debt Instrument [Line Items]          
Long-term debt, gross $ 2,500        
Debt instrument, interest rate, stated percentage 6.858%        
Unsecured Senior Notes Due May 2064 | Senior Notes          
Debt Instrument [Line Items]          
Long-term debt, gross $ 1,500        
Debt instrument, interest rate, stated percentage 7.008%        
v3.25.0.1
Debt - Schedule of Short-Term Debt and Current Portion of Long-Term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Disclosure [Abstract]    
Unsecured debt $ 850 $ 5,072
Finance lease obligations 86 77
Other notes 342 55
Short-term debt and current portion of long-term debt $ 1,278 $ 5,204
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Short-term debt and current portion of long-term debt Short-term debt and current portion of long-term debt
v3.25.0.1
Debt - Schedule of Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Total $ 239  
Other notes 414 $ 370
Total debt 53,864 52,307
1.43% - 2.50% due through 2032    
Debt Instrument [Line Items]    
Unsecured debt securities 6,159 10,135
2.60% - 3.20% due through 2030    
Debt Instrument [Line Items]    
Unsecured debt securities 5,389 6,071
3.25% - 3.90% due through 2059    
Debt Instrument [Line Items]    
Unsecured debt securities 9,637 9,584
3.95% - 5.15% due through 2059    
Debt Instrument [Line Items]    
Unsecured debt securities 7,462 11,024
5.71% - 6.63% due through 2060    
Debt Instrument [Line Items]    
Unsecured debt securities 18,987 13,015
6.86% - 8.75% due through 2064    
Debt Instrument [Line Items]    
Unsecured debt securities 5,577 1,855
Finance lease obligations due through 2044    
Debt Instrument [Line Items]    
Total $ 239 $ 253
Minimum | 1.43% - 2.50% due through 2032    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 1.43%  
Minimum | 2.60% - 3.20% due through 2030    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 2.60%  
Minimum | 3.25% - 3.90% due through 2059    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 3.25%  
Minimum | 3.95% - 5.15% due through 2059    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 3.95%  
Minimum | 5.71% - 6.63% due through 2060    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 5.71%  
Minimum | 6.86% - 8.75% due through 2064    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 6.86%  
Maximum | 1.43% - 2.50% due through 2032    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 2.50%  
Maximum | 2.60% - 3.20% due through 2030    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 3.20%  
Maximum | 3.25% - 3.90% due through 2059    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 3.90%  
Maximum | 3.95% - 5.15% due through 2059    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 5.15%  
Maximum | 5.71% - 6.63% due through 2060    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 6.63%  
Maximum | 6.86% - 8.75% due through 2064    
Debt Instrument [Line Items]    
Debt instrument, interest rate, stated percentage 8.75%  
v3.25.0.1
Debt - Schedule of Maturities of Long-Term Debt (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Debt Disclosure [Abstract]  
2025 $ 1,173
2026 8,022
2027 4,364
2028 1,800
2029 $ 2,500
v3.25.0.1
Debt - Schedule of Finance Lease, Liability, to be Paid, Maturity (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Debt Disclosure [Abstract]  
2025 $ 95
2026 75
2027 43
2028 14
2029 4
Thereafter 37
Total finance lease payments 268
Less imputed interest (29)
Total $ 239
v3.25.0.1
Postretirement Plans - Components of Net Periodic Benefit Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension      
Defined Benefit Plan Disclosure [Line Items]      
Service cost $ 5 $ 2 $ 3
Interest cost 2,635 2,820 2,080
Expected return on plan assets (3,311) (3,441) (3,789)
Amortization of prior service credits (81) (81) (81)
Recognized net actuarial loss/(gain) 281 173 913
Settlement/curtailment gain (4)
Net periodic benefit (income)/cost (471) (527) (878)
Other Postretirement Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 51 49 72
Interest cost 124 148 98
Expected return on plan assets (10) (9) (10)
Amortization of prior service credits (11) (22) (35)
Recognized net actuarial loss/(gain) (176) (175) (111)
Settlement/curtailment gain
Net periodic benefit (income)/cost (22) (9) 14
Operating Income (Loss) | Pension      
Defined Benefit Plan Disclosure [Line Items]      
Net periodic benefit (income)/cost included in (loss)/earning from operations, other income, and loss before income taxes 5 2 3
Operating Income (Loss) | Other Postretirement Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Net periodic benefit (income)/cost included in (loss)/earning from operations, other income, and loss before income taxes 47 62 79
Other Income | Pension      
Defined Benefit Plan Disclosure [Line Items]      
Net periodic benefit (income)/cost included in (loss)/earning from operations, other income, and loss before income taxes (476) (529) (881)
Other Income | Other Postretirement Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Net periodic benefit (income)/cost included in (loss)/earning from operations, other income, and loss before income taxes (73) (58) (58)
Operating Income (Loss) Before Taxes | Pension      
Defined Benefit Plan Disclosure [Line Items]      
Net periodic benefit (income)/cost included in (loss)/earning from operations, other income, and loss before income taxes (471) (527) (878)
Operating Income (Loss) Before Taxes | Other Postretirement Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Net periodic benefit (income)/cost included in (loss)/earning from operations, other income, and loss before income taxes $ (26) $ 4 $ 21
v3.25.0.1
Postretirement Plans - Schedule of Changes in the Benefit Obligation, Plan Assets and Funded Status of Pensions and OPB (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]      
Accrued pension plan liability, net $ (5,997) $ (6,516)  
Pension      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Beginning balance 54,325 55,117  
Service cost 5 2 $ 3
Interest cost 2,635 2,820 2,080
Amendments 140  
Actuarial (gain)/loss (2,493) 1,217  
Gross benefits paid (4,173) (4,837)  
Subsidies  
Exchange rate adjustment (18) 6  
Ending balance 50,421 54,325 55,117
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance at fair value 48,891 49,825  
Actual return on plan assets 738 3,756  
Plan participants' contributions  
Benefits paid (4,034) (4,698)  
Exchange rate adjustment (21) 8  
Ending balance at fair value 45,574 48,891 49,825
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]      
Other assets 1,289 1,219  
Accrued liabilities (139) (137)  
Accrued retiree health care  
Accrued pension plan liability, net (5,997) (6,516)  
Net amount recognized (4,847) (5,434)  
Other Postretirement Benefits      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Beginning balance 2,651 2,978  
Service cost 51 49 72
Interest cost 124 148 98
Amendments  
Actuarial (gain)/loss 156 (152)  
Gross benefits paid (336) (375)  
Subsidies 8 2  
Exchange rate adjustment (3) 1  
Ending balance 2,651 2,651 2,978
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Beginning balance at fair value 163 140  
Actual return on plan assets 22 23  
Plan participants' contributions 1 4  
Benefits paid (3) (4)  
Exchange rate adjustment  
Ending balance at fair value 183 163 $ 140
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]      
Other assets 21 81  
Accrued liabilities (313) (336)  
Accrued retiree health care (2,176) (2,233)  
Accrued pension plan liability, net  
Net amount recognized $ (2,468) $ (2,488)  
v3.25.0.1
Postretirement Plans - Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Pension    
Defined Benefit Plan Disclosure [Line Items]    
Net actuarial loss/(gain) $ 17,976 $ 18,175
Prior service credits (922) (1,143)
Total recognized in AOCI 17,054 17,032
Other Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net actuarial loss/(gain) (1,534) (1,852)
Prior service credits (8) (19)
Total recognized in AOCI $ (1,542) $ (1,871)
v3.25.0.1
Postretirement Plans - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Amount by which fair value of plan assets exceeds market-related value of plan assets (MRVA) $ (7,955)    
Derivative net notional amount for fixed income as percentage of total plan assets 42.00% 38.30%  
Derivative net notional amount for global equity, currency overlay and commodities as a percentage of total plan assets 0.80% 2.10%  
Defined contribution plan, cost $ 1,670 $ 1,564 $ 1,260
Pension      
Defined Benefit Plan Disclosure [Line Items]      
Accumulated benefit obligation (ABO) for all pension plans 49,889 53,671  
Defined benefit plan, plan assets, amount $ 45,574 $ 48,891 49,825
Defined benefit plan, actual plan asset allocations 100.00% 100.00%  
Pension | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, actual plan asset allocations 59.00% 60.00%  
Pension | Equity securities:      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, actual plan asset allocations 19.00% 19.00%  
Pension | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount $ 6,525 $ 5,950  
Pension | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 213 226 268
Pension | Corporate | Level 3 | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets Level 3 reconciliation, increase (decrease) for actual return (loss) on plan assets still held (7) 2  
Pension | Mortgage backed and asset backed | Level 3 | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets Level 3 reconciliation, increase (decrease) for actual return (loss) on plan assets still held 1 6  
Pension | Other | Level 3 | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets Level 3 reconciliation, increase (decrease) for actual return (loss) on plan assets still held   3  
Other Postretirement Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount $ 183 $ 163 $ 140
Other Postretirement Benefits | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, actual plan asset allocations 40.00%    
Other Postretirement Benefits | Equity securities:      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, actual plan asset allocations 60.00%    
v3.25.0.1
Postretirement Plans - Schedule of Key Information for All Plans with ABO in Excess of Plan Assets (Details) - Pension - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Accumulated benefit obligation $ 44,470 $ 47,665
Fair value of plan assets 38,866 41,666
Projected benefit obligation $ 45,002 $ 48,320
v3.25.0.1
Postretirement Plans - Schedule of Assumptions Used to Calculate the Benefit Obligation and Net Periodic Benefit Costs (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Expected return on plan assets 6.00% 6.00% 6.00%
Rate of compensation increase 4.30% 4.30% 4.30%
Interest crediting rates for cash balance plans 5.00% 5.00% 5.00%
Pension      
Defined Benefit Plan Disclosure [Line Items]      
Discount rate 5.60% 5.10% 5.40%
Other Postretirement Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Discount rate 5.40% 5.00% 5.30%
v3.25.0.1
Postretirement Plans - Schedule of Assumed Health Care Cost Trend Rates (Details)
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Retirement Benefits, Description [Abstract]      
Health care cost trend rate assumed next year 6.00% 5.50% 5.50%
Ultimate trend rate 4.50% 4.50% 4.50%
v3.25.0.1
Postretirement Plans - Schedule of Actual Allocations for Pension Assets and Target Allocations by Asset Class (Details) - Pension
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit plan, actual plan asset allocations 100.00% 100.00%
Defined benefit plan, target plan asset allocations 100.00% 100.00%
Fixed income    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit plan, actual plan asset allocations 59.00% 60.00%
Defined benefit plan, target plan asset allocations 59.00% 59.00%
Global equity    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit plan, actual plan asset allocations 19.00% 19.00%
Defined benefit plan, target plan asset allocations 20.00% 20.00%
Private equity    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit plan, actual plan asset allocations 9.00% 8.00%
Defined benefit plan, target plan asset allocations 7.00% 7.00%
Real estate and real assets    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit plan, actual plan asset allocations 7.00% 7.00%
Defined benefit plan, target plan asset allocations 7.00% 7.00%
Hedge funds    
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit plan, actual plan asset allocations 6.00% 6.00%
Defined benefit plan, target plan asset allocations 7.00% 7.00%
v3.25.0.1
Postretirement Plans - Schedule of Allocation of Plan Assets (Details) - Pension - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Estimate of Fair Value Measurement      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount $ 30,850 $ 33,056  
Defined benefit plan, plan assets, amount 45,574 48,891 $ 49,825
Defined benefit plan, plan assets measured at net asset value 14,510 15,435  
Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 6,525 5,950  
Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 24,112 26,880  
Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 213 226 268
Cash equivalents and other short-term investments      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 650 326  
Cash equivalents and other short-term investments | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 646 326  
Cash equivalents and other short-term investments | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 4    
Real estate and real assets      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets measured at net asset value 2,925 3,138  
Private equity      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets measured at net asset value 3,919 4,102  
Hedge funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets measured at net asset value 2,608 2,751  
Cash      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 265 86  
Receivables      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 382 438  
Payables      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount (433) (124)  
Corporate | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 16,322 17,809  
Corporate | Fixed income | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 16,288 17,750  
Corporate | Fixed income | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 34 59 70
U.S. government and agencies | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 5,182 6,822  
U.S. government and agencies | Fixed income | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 5,182 6,822  
U.S. government and agencies | Fixed income | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount  
Mortgage backed and asset backed | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 783 505  
Mortgage backed and asset backed | Fixed income | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 611 344  
Mortgage backed and asset backed | Fixed income | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 172 161 162
Municipal | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 613 816  
Municipal | Fixed income | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 613 816  
Municipal | Fixed income | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount   $ 32
Sovereign | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 924 720  
Sovereign | Fixed income | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 923 720  
Sovereign | Fixed income | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 1  
Other | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 5 9  
Defined benefit plan, plan assets measured at net asset value 1,364 1,364  
Other | Fixed income | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 2 6  
Other | Fixed income | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 3    
Other | Fixed income | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount   3  
Assets | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount   69  
Assets | Fixed income | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount   69  
Assets | Real estate and real assets      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 1    
Assets | Real estate and real assets | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 1    
Liabilities | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount (194)    
Liabilities | Fixed income | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount (194)    
U.S. common and preferred stock | Equity securities:      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 3,645 3,391  
U.S. common and preferred stock | Equity securities: | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 3,645 3,391  
Non-U.S. common and preferred stock | Equity securities:      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 2,530 2,204  
Non-U.S. common and preferred stock | Equity securities: | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 2,530 2,204  
Non-U.S. common and preferred stock | Equity securities: | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount  
Real assets | Real estate and real assets      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 389 385  
Real assets | Real estate and real assets | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 348 349  
Real assets | Real estate and real assets | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 39 33  
Real assets | Real estate and real assets | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets, amount 2 3  
Common or collective or pooled funds | Fixed income      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets measured at net asset value 1,309 1,378  
Common or collective or pooled funds | Equity securities:      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, plan assets measured at net asset value $ 2,385 $ 2,702  
v3.25.0.1
Postretirement Plans - Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets (Details) - Pension - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value $ 48,891 $ 49,825
Net Realized and Unrealized Gains/(Losses) 738 3,756
Ending balance at fair value 45,574 48,891
Level 3    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 226 268
Net Realized and Unrealized Gains/(Losses) (3) 14
Net Purchases, Issuances and Settlements (15) (12)
Net Transfers Into/(Out of) Level 3 5 (44)
Ending balance at fair value 213 226
Fixed income | Corporate    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 17,809  
Ending balance at fair value 16,322 17,809
Fixed income | Corporate | Level 3    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 59 70
Net Realized and Unrealized Gains/(Losses) (3) 5
Net Purchases, Issuances and Settlements (22) (16)
Net Transfers Into/(Out of) Level 3
Ending balance at fair value 34 59
Fixed income | U.S. government and agencies    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 6,822  
Ending balance at fair value 5,182 6,822
Fixed income | U.S. government and agencies | Level 3    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value
Net Realized and Unrealized Gains/(Losses)  
Net Purchases, Issuances and Settlements   (1)
Net Transfers Into/(Out of) Level 3   1
Ending balance at fair value  
Fixed income | Mortgage backed and asset backed    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 505  
Ending balance at fair value 783 505
Fixed income | Mortgage backed and asset backed | Level 3    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 161 162
Net Realized and Unrealized Gains/(Losses) 2 7
Net Purchases, Issuances and Settlements 5 10
Net Transfers Into/(Out of) Level 3 4 (18)
Ending balance at fair value 172 161
Fixed income | Municipal    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 816  
Ending balance at fair value 613 816
Fixed income | Municipal | Level 3    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 32
Net Realized and Unrealized Gains/(Losses)  
Net Purchases, Issuances and Settlements   (5)
Net Transfers Into/(Out of) Level 3   (27)
Ending balance at fair value  
Fixed income | Other | Level 3    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 3
Net Realized and Unrealized Gains/(Losses) (3) 3
Net Purchases, Issuances and Settlements
Net Transfers Into/(Out of) Level 3
Ending balance at fair value 3
Fixed income | Sovereign    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 720  
Ending balance at fair value 924 720
Fixed income | Sovereign | Level 3    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value  
Net Realized and Unrealized Gains/(Losses)  
Net Purchases, Issuances and Settlements 1  
Net Transfers Into/(Out of) Level 3  
Ending balance at fair value 1
Fixed income | Cash equivalents and other short-term investments | Level 3    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value  
Net Realized and Unrealized Gains/(Losses)  
Net Purchases, Issuances and Settlements 4  
Net Transfers Into/(Out of) Level 3  
Ending balance at fair value 4
Global equity | Non-U.S. common and preferred stock    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 2,204  
Ending balance at fair value 2,530 2,204
Global equity | Non-U.S. common and preferred stock | Level 3    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value  
Net Realized and Unrealized Gains/(Losses) 1  
Net Purchases, Issuances and Settlements (1)  
Net Transfers Into/(Out of) Level 3  
Ending balance at fair value
Real estate and real assets | Real assets | Level 3    
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Beginning balance at fair value 3 4
Net Realized and Unrealized Gains/(Losses) (1)
Net Purchases, Issuances and Settlements (2)
Net Transfers Into/(Out of) Level 3 1
Ending balance at fair value $ 2 $ 3
v3.25.0.1
Postretirement Plans - Schedule of Estimated Future Benefit Payments (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Pension  
Pensions  
2025 $ 4,702
2026 4,427
2027 4,302
2028 4,198
2029 4,077
2030-2034 18,628
Other Postretirement Benefits  
Pensions  
2025 322
2026 306
2027 283
2028 258
2029 267
2030-2034 1,023
Gross benefits paid  
2025 331
2026 315
2027 292
2028 267
2029 276
2030-2034 1,063
Subsidies  
2025 (9)
2026 (9)
2027 (9)
2028 (9)
2029 (9)
2030-2034 $ (40)
v3.25.0.1
Share-Based Compensation and Other Compensation Arrangements - Narrative (Details)
$ / shares in Units, $ in Millions
 1 Months Ended 12 Months Ended
Mar. 11, 2024
$ / shares
shares
Feb. 16, 2022
shares
Mar. 31, 2024
$ / shares
shares
Feb. 29, 2024
$ / shares
shares
Feb. 28, 2023
$ / shares
shares
Jul. 31, 2022
$ / shares
shares
Feb. 28, 2022
$ / shares
shares
Dec. 31, 2024
USD ($)
fund
$ / shares
shares
Dec. 31, 2023
USD ($)
shares
Dec. 31, 2022
USD ($)
$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Aggregate number of shares of stock available for issuance (in shares)                 12,900,000  
Granted (in shares)               124,374    
Share-based compensation arrangement by share-based payment award, options, exercises in period, total intrinsic value | $               $ 0 $ 80 $ 75
Share-based payment arrangement, exercise of option, tax benefit | $               0 18 17
Share-based compensation arrangement by share-based payment award, options, vested in period, fair value | $               $ 32    
Number of investment funds | fund               23    
Deferred compensation | $               $ 114 188 $ (117)
Deferred compensation liability which is being marked to market | $               1,675 $ 1,640  
2022 Stock Options                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Unrecognized compensation cost | $               $ 9    
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition               3 years 1 month 6 days    
Long-Term Incentive Program                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Unrecognized compensation cost | $               $ 353    
Number of units, granted (in shares)               2,174,064    
Number of shares, forfeited (in shares)               312,242    
Stock options                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Share-based compensation arrangement by share-based payment award, award vesting period               3 years    
Share-based compensation arrangement by share-based payment award, expiration period               10 years    
Granted date fair value (in dollars per share) | $ / shares                   $ 83.04
Stock options | 2021 Stock Options                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Granted (in shares)   348,769                
Stock options | 2022 Stock Options                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent   120.00%                
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent (reduced)   110.00%                
Restricted stock units | Long-Term Incentive Program                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Number of units, granted (in shares) 125,432     2,008,499 327,523 2,568,112 1,804,541      
Granted date fair value (in dollars per share) | $ / shares $ 192.94     $ 204.15 $ 214.35 $ 157.69 $ 217.48      
Performance restricted stock units                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Share-based compensation arrangement by share-based payment award, award vesting period               3 years    
Unrecognized compensation cost | $               $ 0    
Number of units, granted (in shares)     153,306   199,899          
Granted date fair value (in dollars per share) | $ / shares     $ 192.94   $ 214.35          
Number of shares, forfeited (in shares)               40,042    
Performance restricted stock units | Minimum                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Share-based compensation arrangement by share-based payment award, equity instruments other than options, award payout percentage               0.00%    
Share-based compensation arrangement by share-based payment award, equity instruments other than options, award payout reduction percentage               25.00%    
Performance restricted stock units | Maximum                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Share-based compensation arrangement by share-based payment award, equity instruments other than options, award payout percentage               200.00%    
Share-based compensation arrangement by share-based payment award, equity instruments other than options, award payout reduction percentage               0.00%    
Performance Based Restricted Stock Units (PBRSUs)                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Share-based compensation arrangement by share-based payment award, award vesting period               3 years    
Performance Based Restricted Stock Units (PBRSUs) | 2020 PBRSU                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Award payout range                 0.00%  
Performance Based Restricted Stock Units (PBRSUs) | 2020 PBRSU | Minimum                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Award payout range               0.00%    
Performance Based Restricted Stock Units (PBRSUs) | 2020 PBRSU | Maximum                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Award payout range               200.00%    
Performance Based Restricted Stock Units (PBRSUs) | 2019 PBRSU | Minimum                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Award payout range               0.00%    
Performance Based Restricted Stock Units (PBRSUs) | 2019 PBRSU | Maximum                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Award payout range               200.00%    
Employee Stock                    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                    
Aggregate number of shares of stock available for issuance (in shares)               12,000,000    
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent               95.00%    
Share-based compensation arrangement by share-based payment award, purchase period               3 months    
Share-based compensation arrangement by share-based payment award, shares issued in period (in shares)               377,712    
Employee stock ownership plan (ESOP), weighted average purchase price of shares purchased (in dollars per share) | $ / shares               $ 179.03    
v3.25.0.1
Share-Based Compensation and Other Compensation Arrangements - Schedule of Share-Based Plans Expense and Related Income Tax Benefit (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Restricted stock units and other awards $ 409 $ 697 $ 726
Income tax benefit (before consideration of valuation allowance) $ 107 $ 157 $ 178
v3.25.0.1
Share-Based Compensation and Other Compensation Arrangements - Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions (Details) - Stock options
 12 Months Ended
Dec. 31, 2022
$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Expected Life 6 years 9 months 18 days
Expected Volatility 36.60%
Risk Free Interest Rate 2.00%
Granted date fair value (in dollars per share) $ 83.04
v3.25.0.1
Share-Based Compensation and Other Compensation Arrangements - Schedule of Stock Options Activity (Details)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]  
Outstanding at beginning of year (in shares) | shares 792,662
Granted (in shares) | shares 124,374
Exercised (in shares) | shares (1,953)
Forfeited (in shares) | shares (11,084)
Outstanding at end of the year (in shares) | shares 903,999
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]  
Outstanding at beginning of year, weighted average exercised (in dollars per share) | $ / shares $ 252.35
Weighted average exercise price, granted (in dollars per share) | $ / shares 200.83
Weighted average exercise price, exercised (in dollars per share) | $ / shares 124.98
Weighted average exercise price, forfeited (in dollars per share) | $ / shares 233.75
Outstanding at end of year, weighted average exercised (in dollars per share) | $ / shares $ 245.76
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]  
Outstanding at end of year, weighted average remaining contractual life (in years) 6 years 10 months 24 days
Outstanding at end of year, aggregate intrinsic value | $ $ 0
Exercisable at end of year (in shares) | shares 425,705
Exercisable at end of year, weighted average exercise price (in dollars per share) | $ / shares $ 250.10
Exercisable at end of year, weighted average remaining contractual life (in years) 6 years
Exercisable at end of year, aggregate intrinsic value | $ $ 0
v3.25.0.1
Share-Based Compensation and Other Compensation Arrangements - Schedule of Restricted Stock Units Award Activity (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]  
Weighted average remaining amortization period (years) 6 years 10 months 24 days
Long-Term Incentive Program  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]  
Number of units, outstanding at beginning of year (in shares) 5,349,490
Number of units, granted (in shares) 2,174,064
Number of units, forfeited (in shares) (312,242)
Number of units, distributed (in shares) (870,741)
Number of units, outstanding at end of year (in shares) 6,340,571
Number of units, undistributed and vested (in shares) 897,643
Unrecognized compensation cost | $ $ 353
Weighted average remaining amortization period (years) 1 year 8 months 12 days
Other  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]  
Number of units, outstanding at beginning of year (in shares) 765,510
Number of units, granted (in shares) 176,483
Number of units, forfeited (in shares) (28,197)
Number of units, distributed (in shares) (348,366)
Number of units, outstanding at end of year (in shares) 565,430
Number of units, undistributed and vested (in shares) 33,550
Unrecognized compensation cost | $ $ 37
Weighted average remaining amortization period (years) 1 year 7 months 6 days
v3.25.0.1
Shareholders' Equity - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Oct. 15, 2027
Oct. 31, 2024
Oct. 30, 2024
Jan. 15, 2025
Dec. 31, 2024
Dec. 31, 2023
Class of Stock [Line Items]            
Common stock, shares authorized (in shares)         1,200,000,000 1,200,000,000
Preferred stock, shares authorized (in shares)         20,000,000 20,000,000
Sale of stock, number of shares issued in transaction (in shares)     129,375,000      
Common stock, par value (in dollars per share)     $ 5.00   $ 5.00 $ 5.00
Sale of stock, consideration received on transaction   $ 5,651 $ 18,181      
Additional paid in capital, period increase (decrease)           $ (267)
Subsequent Event            
Class of Stock [Line Items]            
Dividends, preferred stock       $ 72    
Preferred stock, dividends per share, declared (in dollars per share)       $ 12.50    
Forecast            
Class of Stock [Line Items]            
Equity instrument, convertible, threshold consecutive trading days 20 days          
Equity instrument, convertible, threshold consecutive trading days trigger period 21 days          
Depositary Share            
Class of Stock [Line Items]            
Sale of stock, number of shares issued in transaction (in shares)   115,000,000        
Mandatory convertible preferred stock            
Class of Stock [Line Items]            
Preferred stock, shares authorized (in shares)         20,000,000  
Preferred stock, shares, issued (in shares)   5,750,000     5,750,000  
Preferred stock, dividend rate, percentage   6.00%     6.00%  
Preferred stock, liquidation preference per share (in dollars per share)   $ 1,000        
Preferred stock, par value (in dollars per share)   $ 1.00     $ 1.00  
Mandatory convertible preferred stock | Forecast            
Class of Stock [Line Items]            
Conversion of stock, shares converted (in shares) 5.8280          
Mandatory convertible preferred stock | Minimum | Forecast            
Class of Stock [Line Items]            
Conversion of stock, shares converted (in shares) 5.8280          
Mandatory convertible preferred stock | Maximum | Forecast            
Class of Stock [Line Items]            
Conversion of stock, shares converted (in shares) 6.9940          
v3.25.0.1
Shareholders' Equity - Schedule of Common Stock Outstanding Roll Forward (Details) - shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Common stock      
Common stock, beginning balance (in shares) 1,012,261,159 1,012,261,159 1,012,261,159
Common stock, ending balance (in shares) 1,012,261,159 1,012,261,159 1,012,261,159
Treasury stock      
Treasury stock, beginning balance (in shares) 402,746,136 414,671,383 423,343,707
Treasury stock, issued (in shares) (140,120,845) (13,651,201) (8,877,047)
Treasury stock, acquired (in shares) 419,549 1,725,954 204,723
Treasury stock, ending balance (in shares) 263,044,840 402,746,136 414,671,383
Mandatory convertible preferred stock      
Mandatory convertible preferred stock      
Mandatory convertible preferred stock, beginning balance (in shares)    
Mandatory convertible preferred stock, issued (in shares) 5,750,000    
Mandatory convertible preferred stock, ending balance (in shares) 5,750,000  
v3.25.0.1
Shareholders' Equity - Schedule of Conversion Rate Per Share of Mandatory Convertible Preferred Stock (Details)
 12 Months Ended
Dec. 31, 2024
$ / shares
shares
Scenario One | Mandatory convertible preferred stock  
Class of Stock [Line Items]  
Mandatory convertible preferred stock, convertible, conversion price, increase (in dollars per share) $ 171.5854
Conversion of stock, shares converted (in shares) | shares 5.8280
Scenario Two and Three  
Class of Stock [Line Items]  
Mandatory convertible preferred stock, convertible, conversion price, increase (in dollars per share) $ 1,000
Scenario Two and Three | Mandatory convertible preferred stock | Minimum  
Class of Stock [Line Items]  
Conversion of stock, shares converted (in shares) | shares 5.8280
Scenario Two and Three | Mandatory convertible preferred stock | Maximum  
Class of Stock [Line Items]  
Conversion of stock, shares converted (in shares) | shares 6.9940
Scenario Two | Mandatory convertible preferred stock  
Class of Stock [Line Items]  
Mandatory convertible preferred stock, convertible, conversion price, increase (in dollars per share) $ 171.5854
Scenario Three | Mandatory convertible preferred stock  
Class of Stock [Line Items]  
Mandatory convertible preferred stock, convertible, conversion price, increase (in dollars per share) 142.9797
Scenario Four | Mandatory convertible preferred stock  
Class of Stock [Line Items]  
Mandatory convertible preferred stock, convertible, conversion price, increase (in dollars per share) $ 142.9797
Conversion of stock, shares converted (in shares) | shares 6.9940
v3.25.0.1
Shareholders' Equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income [Roll Forward]      
Beginning balance $ (10,305)    
Other comprehensive (loss)/income before reclassifications (658) $ (646) $ 1,426
Amounts reclassified from AOCI 48 (109) 683
Net current period Other comprehensive (loss)/income (610) (755) 2,109
Ending balance (10,915) (10,305)  
Other comprehensive income (loss), defined benefit plan, gain (loss) arising during period, after tax (225) (722) 1,533
Net actuarial (loss)/gain arising during the period, tax (1) 13 (22)
Other comprehensive (income) loss, defined benefit plan, prior service cost (credit), reclassification adjustment from AOCI, after tax (92) (102) (114)
Amortization of prior service credits included in net periodic pension cost, tax 0 (1) (2)
Other comprehensive income (loss), defined benefit plan, gain (loss), reclassification adjustment from AOCI, after tax (105) 2 (791)
Amortization of actuarial loss/(gain) included in net periodic pension cost, tax 0 0 (11)
Gain (loss) on discontinuation of cash flow hedge due to forecasted transaction probable of not occurring, net     39
Loss on discontinuation of cash flow hedge due to forecasted transaction probable of not occurring, tax     (11)
Other comprehensive (income) loss, defined benefit plan, prior service cost (credit), after tax 140 1
Prior service credits arising during the period, tax 0 0 0
Accumulated other comprehensive loss      
Accumulated Other Comprehensive Income [Roll Forward]      
Beginning balance (10,305) (9,550) (11,659)
Ending balance (10,915) (10,305) (9,550)
Currency Translation Adjustments      
Accumulated Other Comprehensive Income [Roll Forward]      
Beginning balance (134) (167) (105)
Other comprehensive (loss)/income before reclassifications (44) 33 (62)
Amounts reclassified from AOCI
Net current period Other comprehensive (loss)/income (44) 33 (62)
Ending balance (178) (134) (167)
Unrealized Gains and Losses on Certain Investments      
Accumulated Other Comprehensive Income [Roll Forward]      
Beginning balance 2 1
Other comprehensive (loss)/income before reclassifications 2 (1)
Amounts reclassified from AOCI
Net current period Other comprehensive (loss)/income 2 (1)
Ending balance 2 2
Unrealized Gains and Losses on Derivative Instruments      
Accumulated Other Comprehensive Income [Roll Forward]      
Beginning balance 12 (24) 6
Other comprehensive (loss)/income before reclassifications (258) 41 (40)
Amounts reclassified from AOCI 35 (5) 10
Net current period Other comprehensive (loss)/income (223) 36 (30)
Ending balance (211) 12 (24)
Defined Benefit Pension Plans & Other Postretirement Benefits      
Accumulated Other Comprehensive Income [Roll Forward]      
Beginning balance (10,185) (9,359) (11,561)
Other comprehensive (loss)/income before reclassifications (356) (722) 1,529
Amounts reclassified from AOCI 13 (104) 673
Net current period Other comprehensive (loss)/income (343) (826) 2,202
Ending balance $ (10,528) $ (10,185) $ (9,359)
v3.25.0.1
Derivative Financial Instruments - Schedule of Derivative Instruments in Statement of Financial Position, Fair Value (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]    
Derivative, notional amount $ 5,759 $ 5,003
Other assets 89 169
Accrued liabilities (242) (105)
Netting arrangement, other assets (24) (47)
Netting arrangement, accrued liabilities 24 47
Net recorded balance, other assets 65 122
Net recorded balance, accrued liabilities $ (218) $ (58)
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other current assets, net Other current assets, net
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued liabilities Accrued liabilities
Foreign exchange contracts | Derivatives designated as hedging instruments:    
Derivative [Line Items]    
Derivative, notional amount $ 5,139 $ 4,120
Other assets 23 85
Accrued liabilities (213) (63)
Foreign exchange contracts | Derivatives not receiving hedge accounting treatment:    
Derivative [Line Items]    
Derivative, notional amount 103 254
Other assets 1 1
Accrued liabilities (17) (32)
Commodity contracts | Derivatives designated as hedging instruments:    
Derivative [Line Items]    
Derivative, notional amount 388 514
Other assets 65 83
Accrued liabilities (12) (8)
Commodity contracts | Derivatives not receiving hedge accounting treatment:    
Derivative [Line Items]    
Derivative, notional amount 129 115
Other assets
Accrued liabilities $ (2)
v3.25.0.1
Derivative Financial Instruments - Schedule of Derivative Instruments, Gains/(Losses) in Statement of Financial Performance (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Foreign exchange contracts      
Derivative [Line Items]      
Recognized in Other comprehensive income, net of taxes: $ (248) $ 61 $ (118)
Commodity contracts      
Derivative [Line Items]      
Recognized in Other comprehensive income, net of taxes: $ (10) $ (20) $ 78
v3.25.0.1
Derivative Financial Instruments - Reclassification Out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Costs and expenses      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax $ (7) $ 31 $ 31
General and administrative expense      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax 6 7 10
Revenues      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax (1) 1
Costs and expenses      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax (25) (15) 7
General and administrative expense      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax $ (8) $ (17) $ (12)
v3.25.0.1
Derivative Financial Instruments - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2022
Summary of Derivative Instruments [Abstract]    
Loss on discontinuation of cash flow hedge due to forecasted transaction probable of not occurring   $ 50
Cash flow hedge gain to be reclassified within 12 Months $ (64)  
Line of credit facility, expiration period 5 years  
Derivative, maturity 5 years  
Derivative, net liability position, aggregate fair value $ 22  
v3.25.0.1
Fair Value Measurements - Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Derivatives $ 65 $ 122
Derivatives (218) (58)
Fair Value, Recurring    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Money market funds 6,475 1,514
Commercial paper 165 291
Corporate notes 335 183
U.S. government agencies 17 25
Other equity investments 9 44
Derivatives 65 122
Total assets 7,066 2,179
Derivatives (218) (58)
Total liabilities (218) (58)
Fair Value, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Money market funds 6,475 1,514
Other equity investments 9 44
Total assets 6,484 1,558
Fair Value, Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]    
Commercial paper 165 291
Corporate notes 335 183
U.S. government agencies 17 25
Derivatives 65 122
Total assets 582 621
Derivatives (218) (58)
Total liabilities $ (218) $ (58)
v3.25.0.1
Fair Value Measurements - Fair Value, Assets Measured on Nonrecurring Basis Using Unobservable Inputs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]      
Nonrecurring fair value losses $ (112) $ (46) $ (112)
Fair Value Measurements Nonrecurring      
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]      
Assets, fair value disclosure 53 14  
Nonrecurring fair value losses (112) (46)  
Property, plant and equipment | Fair Value Measurements Nonrecurring      
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]      
Assets, fair value disclosure 32 14  
Nonrecurring fair value losses (54) (26)  
Investments | Fair Value Measurements Nonrecurring      
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]      
Nonrecurring fair value losses (32) (18)  
Other assets | Fair Value Measurements Nonrecurring      
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]      
Assets, fair value disclosure 6    
Nonrecurring fair value losses (21) $ (2)  
Operating lease equipment | Fair Value Measurements Nonrecurring      
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]      
Assets, fair value disclosure 15    
Nonrecurring fair value losses $ (5)    
v3.25.0.1
Fair Value Measurements - Fair Value, Assets Measured on Nonrecurring Basis, Valuation Techniques (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Aircraft value publications    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]    
Range of fair value of assets measured on nonrecurring basis valuation techniques $ 23  
Aircraft value publications | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]    
Range of fair value of assets measured on nonrecurring basis valuation techniques 21  
Aircraft value publications | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]    
Range of fair value of assets measured on nonrecurring basis valuation techniques 27  
Aircraft condition adjustments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]    
Range of fair value of assets measured on nonrecurring basis valuation techniques (8)  
Aircraft condition adjustments | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]    
Range of fair value of assets measured on nonrecurring basis valuation techniques (8)  
Aircraft condition adjustments | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]    
Range of fair value of assets measured on nonrecurring basis valuation techniques 0  
Fair Value Measurements Nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]    
Assets, fair value disclosure 53 $ 14
Operating lease equipment | Fair Value Measurements Nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]    
Assets, fair value disclosure 15  
Operating lease equipment | Level 3 | Fair Value Measurements Nonrecurring | Valuation, Market Approach    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]    
Assets, fair value disclosure $ 15  
v3.25.0.1
Fair Value Measurements - Fair Values and Related Carrying Values of Financial Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable, net, carrying amount $ 940 $ 257
Notes receivable, net, fair value 953 270
Debt, excluding capital lease obligations, carrying amount (53,625) (52,055)
Debt, excluding capital lease obligations, fair value (51,089) (51,039)
Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable, net, fair value 941 270
Debt, excluding capital lease obligations, fair value (51,089) $ (51,039)
Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Notes receivable, net, fair value $ 12  
v3.25.0.1
Legal Proceedings - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jul. 24, 2024
Dec. 31, 2024
Loss Contingency, Information about Litigation Matters [Abstract]    
Loss contingency, settlement agreement, additional fine $ 244 $ 244
Loss contingency, settlement agreement, minimum investment commitment $ 455  
Loss contingency, settlement agreement, investment commitment, period 3 years  
Loss contingency, settlement agreement, appointment of compliance monitor, period 3 years  
v3.25.0.1
Segment and Revenue Information - Narrative (Details)
$ in Millions
 12 Months Ended
Jul. 24, 2024
USD ($)
Dec. 31, 2024
USD ($)
segment
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Segment Reporting Information [Line Items]        
Number of reportable segments | segment   3    
Percentage of operating assets located outside united states   3.00% 4.00%  
Income (loss) from equity method investments   $ 104 $ 70 $ 56
Revenue, remaining performance obligation, amount   521,336    
Loss contingency, settlement agreement, additional fine $ 244 $ 244    
Within Next Fiscal Year        
Segment Reporting Information [Line Items]        
Revenue, remaining performance obligation, percent recognized   14.00%    
Within Next 4 Fiscal Years        
Segment Reporting Information [Line Items]        
Revenue, remaining performance obligation, percent recognized   59.00%    
U.S. government contracts | Revenues | U.S. government contracts        
Segment Reporting Information [Line Items]        
Concentration risk, percentage   42.00% 37.00% 40.00%
v3.25.0.1
Segment and Revenue Information - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Total revenues $ 66,517 $ 77,794 $ 66,608
Research and development expense, net 3,812 3,377 2,852
Loss from operations (10,707) (773) (3,519)
Operating Segments      
Segment Reporting Information [Line Items]      
Loss from operations (9,764) (70) (3,158)
Operating Segments | BCA      
Segment Reporting Information [Line Items]      
Total revenues 22,861 33,901 26,026
Research and development expense, net 2,386 2,036 1,510
Other segment items 28,444 33,500 26,857
Loss from operations (7,969) (1,635) (2,341)
Operating Segments | BDS      
Segment Reporting Information [Line Items]      
Total revenues 23,918 24,933 23,162
Research and development expense, net 917 919 945
Other segment items 28,414 25,778 25,761
Loss from operations (5,413) (1,764) (3,544)
Operating Segments | BGS      
Segment Reporting Information [Line Items]      
Total revenues 19,954 19,127 17,611
Research and development expense, net 132 107 119
Other segment items 16,204 15,691 14,765
Loss from operations $ 3,618 $ 3,329 $ 2,727
v3.25.0.1
Segment and Revenue Information - Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues $ 66,517 $ 77,794 $ 66,608
Operating Segments | Commercial Airplanes      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 22,861 33,901 26,026
Operating Segments | Commercial Airplanes | B-737-Max | Customer Concessions      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenue from contract with customer, excluding assessed tax (443) 27 16
Total non-U.S. revenues      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 30,789 32,387 27,374
Total non-U.S. revenues | Operating Segments | Commercial Airplanes      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenue from contract with customer, excluding assessed tax 15,843 19,242 13,618
Asia      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 11,994 10,013 8,393
Asia | Operating Segments | Commercial Airplanes      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenue from contract with customer, excluding assessed tax 8,060 6,328 4,488
Europe      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 8,734 10,520 7,916
Europe | Operating Segments | Commercial Airplanes      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenue from contract with customer, excluding assessed tax 3,956 6,172 4,085
Middle East      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 4,635 6,594 5,047
Middle East | Operating Segments | Commercial Airplanes      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenue from contract with customer, excluding assessed tax 2,012 4,311 2,003
Canada      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 1,472 1,256 1,612
Oceania      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 1,565 1,655 1,576
Africa      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 1,143 825 418
Latin America, Caribbean and other      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 1,246 1,524 2,412
United States      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 36,171 45,380 39,218
United States | Operating Segments | Commercial Airplanes      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenue from contract with customer, excluding assessed tax $ 7,326 $ 14,501 $ 12,275
v3.25.0.1
Segment and Revenue Information - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]      
Total revenues $ 66,517 $ 77,794 $ 66,608
Asia      
Disaggregation of Revenue [Line Items]      
Total revenues 11,994 10,013 8,393
Europe      
Disaggregation of Revenue [Line Items]      
Total revenues 8,734 10,520 7,916
Middle East      
Disaggregation of Revenue [Line Items]      
Total revenues 4,635 6,594 5,047
Total non-U.S. revenues      
Disaggregation of Revenue [Line Items]      
Total revenues 30,789 32,387 27,374
United States      
Disaggregation of Revenue [Line Items]      
Total revenues 36,171 45,380 39,218
Operating Segments | Commercial Airplanes      
Disaggregation of Revenue [Line Items]      
Total revenues 22,861 33,901 26,026
Operating Segments | Commercial Airplanes | B-737-Max | Customer Concessions      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax (443) 27 16
Operating Segments | Commercial Airplanes | Total revenues from contracts with customers      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax $ 22,726 $ 33,770 $ 25,909
Operating Segments | Commercial Airplanes | Revenue recognized on fixed-price contracts      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax, percentage 100.00% 100.00% 100.00%
Operating Segments | Commercial Airplanes | Revenue recognized at a point in time      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax, percentage 99.00% 99.00% 99.00%
Operating Segments | Commercial Airplanes | Asia      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax $ 8,060 $ 6,328 $ 4,488
Operating Segments | Commercial Airplanes | Europe      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax 3,956 6,172 4,085
Operating Segments | Commercial Airplanes | Middle East      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax 2,012 4,311 2,003
Operating Segments | Commercial Airplanes | Other      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax 1,815 2,431 3,042
Operating Segments | Commercial Airplanes | Total non-U.S. revenues      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax 15,843 19,242 13,618
Operating Segments | Commercial Airplanes | United States      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax 7,326 14,501 12,275
Operating Segments | Defense, Space & Security      
Disaggregation of Revenue [Line Items]      
Total revenues $ 23,918 $ 24,933 $ 23,162
Operating Segments | Defense, Space & Security | Revenue from the U.S. government      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax, percentage 91.00% 91.00% 89.00%
Operating Segments | Defense, Space & Security | Revenue recognized over time      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax, percentage 99.00% 99.00% 99.00%
Operating Segments | Defense, Space & Security | Revenue recognized on fixed-price contracts      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax, percentage 54.00% 58.00% 60.00%
Operating Segments | Defense, Space & Security | Total non-U.S. revenues      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax $ 5,329 $ 4,882 $ 6,018
Operating Segments | Defense, Space & Security | United States      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax 18,589 20,051 17,144
Operating Segments | Global Services      
Disaggregation of Revenue [Line Items]      
Total revenues 19,954 19,127 17,611
Operating Segments | Global Services | Commercial      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax 11,736 11,020 9,560
Operating Segments | Global Services | Government      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax 7,832 7,751 7,681
Operating Segments | Global Services | Total revenues from contracts with customers      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax $ 19,568 $ 18,771 $ 17,241
Operating Segments | Global Services | Revenue from the U.S. government      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax, percentage 29.00% 30.00% 33.00%
Operating Segments | Global Services | Revenue recognized at a point in time      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax, percentage 53.00% 51.00% 50.00%
Operating Segments | Global Services | Revenue recognized on fixed-price contracts      
Disaggregation of Revenue [Line Items]      
Revenue from contract with customer, excluding assessed tax, percentage 86.00% 87.00% 88.00%
Intersegment revenues, eliminated on consolidation | Commercial Airplanes      
Disaggregation of Revenue [Line Items]      
Total revenues $ 135 $ 131 $ 117
Intersegment revenues, eliminated on consolidation | Global Services      
Disaggregation of Revenue [Line Items]      
Total revenues $ 386 $ 356 $ 370
v3.25.0.1
Segment and Revenue Information - Schedule of Unallocated Items and Eliminations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Share-based plans $ (407) $ (690) $ (725)
Deferred compensation (114) (188) 117
Research and development expense, net (3,812) (3,377) (2,852)
Other      
Segment Reporting Information [Line Items]      
Share-based plans 171 62 (114)
Deferred compensation (114) (188) 117
Amortization of previously capitalized interest (93) (95) (95)
Research and development expense, net (377) (315) (278)
Eliminations and other unallocated items (1,634) (1,223) (1,134)
Unallocated items, eliminations and other $ (2,047) $ (1,759) $ (1,504)
v3.25.0.1
Segment and Revenue Information - Components of Financial Accounting Standards and Cost Accounting Standards Adjustment (Details) - Other - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
FAS/CAS service cost adjustment $ 1,104 $ 1,056 $ 1,143
Pension      
Segment Reporting Information [Line Items]      
FAS/CAS service cost adjustment 811 799 849
Other Postretirement Benefits      
Segment Reporting Information [Line Items]      
FAS/CAS service cost adjustment $ 293 $ 257 $ 294
v3.25.0.1
Segment and Revenue Information - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]    
Assets $ 156,363 $ 137,012
Operating Segments | Commercial Airplanes    
Segment Reporting Information [Line Items]    
Assets 84,177 77,047
Operating Segments | Defense, Space & Security    
Segment Reporting Information [Line Items]    
Assets 15,350 14,921
Operating Segments | Global Services    
Segment Reporting Information [Line Items]    
Assets 16,704 16,193
Other    
Segment Reporting Information [Line Items]    
Assets $ 40,132 $ 28,851
v3.25.0.1
Segment and Revenue Information - Schedule of Capital Expenditures by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Capital expenditures $ 2,230 $ 1,527 $ 1,222
Operating Segments | Commercial Airplanes      
Segment Reporting Information [Line Items]      
Capital expenditures 508 420 218
Operating Segments | Defense, Space & Security      
Segment Reporting Information [Line Items]      
Capital expenditures 296 192 202
Operating Segments | Global Services      
Segment Reporting Information [Line Items]      
Capital expenditures 212 127 130
Other      
Segment Reporting Information [Line Items]      
Capital expenditures $ 1,214 $ 788 $ 672
v3.25.0.1
Segment and Revenue Information - Schedule of Depreciation and Amortization Expense by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Depreciation and amortization $ 1,836 $ 1,861 $ 1,979
Operating Segments | Commercial Airplanes      
Segment Reporting Information [Line Items]      
Depreciation and amortization 400 464 554
Depreciation and amortization expense, business segment allocation 339 311 361
Operating Segments | Defense, Space & Security      
Segment Reporting Information [Line Items]      
Depreciation and amortization 209 219 238
Depreciation and amortization expense, business segment allocation 289 264 230
Operating Segments | Global Services      
Segment Reporting Information [Line Items]      
Depreciation and amortization 304 320 346
Depreciation and amortization expense, business segment allocation 77 75 53
Other      
Segment Reporting Information [Line Items]      
Depreciation and amortization 923 858 841
Intersegment revenues, eliminated on consolidation      
Segment Reporting Information [Line Items]      
Depreciation and amortization expense, business segment allocation $ 705 $ 650 $ 644