Boeing Co., balance sheet: debt

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Short-term debt and current portion of long-term debt	1,278)	5,204)	5,190)	1,296)	1,693)
Long-term debt, excluding current portion	52,586)	47,103)	51,811)	56,806)	61,890)
Total debt, including finance lease obligations and commercial paper (carrying amount)	53,864)	52,307)	57,001)	58,102)	63,583)

Download chart

Debt item	Description	The company
Total debt, including finance lease obligations and commercial paper (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	Boeing Co. total debt decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.

	Dec 31, 2024
Selected Financial Data (US$ in millions)
Debt, excluding finance lease obligations and commercial paper	51,089)
Finance lease obligations	239)
Total debt, including finance lease obligations and commercial paper (fair value)	51,328)
Financial Ratio
Debt, fair value to carrying amount ratio	0.95

Weighted-average interest rate on debt: 5.32%

Interest rate	Debt amount¹	Interest rate × Debt amount
2.50%	6,159)	154)
3.20%	5,389)	172)
3.90%	9,637)	376)
5.15%	7,462)	384)
6.63%	18,987)	1,259)
8.75%	5,577)	488)
Total	53,211)	2,833)
5.32%

¹ US$ in millions

² Weighted-average interest rate = 100 × 2,833 ÷ 53,211 = 5.32%

Boeing Co., interest costs incurred

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest expense, including Boeing Capital	2,725)	2,459)	2,561)	2,714)	2,199)
Interest capitalized	149)	101)	89)	76)	81)
Interest incurred, including amounts capitalized	2,874)	2,560)	2,650)	2,790)	2,280)

Download chart

Debt item	Description	The company
Interest expense, including Boeing Capital	Amount of the cost of borrowed funds accounted for as interest expense for debt.	Boeing Co. interest expense, including Boeing Capital decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Interest capitalized	Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred.	Boeing Co. interest capitalized increased from 2022 to 2023 and from 2023 to 2024.
Interest incurred, including amounts capitalized	Total interest costs incurred during the period and either capitalized or charged against earnings.	Boeing Co. interest incurred, including amounts capitalized decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Net loss attributable to Boeing Shareholders	(11,817)	(2,222)	(4,935)	(4,202)	(11,873)
Add: Net income attributable to noncontrolling interest	(12)	(20)	(118)	(88)	(68)
Add: Income tax expense	(381)	237)	31)	(743)	(2,535)
Add: Interest and debt expense	2,725)	2,459)	2,533)	2,682)	2,156)
Earnings before interest and tax (EBIT)	(9,485)	454)	(2,489)	(2,351)	(12,320)

Interest incurred, including amounts capitalized	2,874)	2,560)	2,650)	2,790)	2,280)
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)¹	-3.48	0.18	-0.98	-0.88	-5.71
Adjusted interest coverage ratio (with capitalized interest)²	-3.30	0.18	-0.94	-0.84	-5.40

2024 Calculations

¹ Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest and debt expense
= -9,485 ÷ 2,725 = -3.48

² Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest incurred, including amounts capitalized
= -9,485 ÷ 2,874 = -3.30

Download chart

Solvency ratio	Description	The company
Adjusted interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest).	Boeing Co. adjusted interest coverage ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Boeing Co. (NYSE:BA)

Analysis of Debt