Stock Analysis on Net

Boeing Co. (NYSE:BA)

Adjustments to Financial Statements

Microsoft Excel

Adjustments to Current Assets

Boeing Co., adjusted current assets

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Current assets 109,275 109,523 108,666 121,642 102,229
Adjustments
Add: Valuation allowance 89 116 390 444 73
After Adjustment
Adjusted current assets 109,364 109,639 109,056 122,086 102,302

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).


Adjustments to Total Assets

Boeing Co., adjusted total assets

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Total assets 137,012 137,100 138,552 152,136 133,625
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1
Add: Valuation allowance 89 116 390 444 73
Less: Deferred tax assets2 59 63 77 86 683
After Adjustment
Adjusted total assets 137,042 137,153 138,865 152,494 133,015

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Deferred tax assets. See details »


Adjustments to Current Liabilities

Boeing Co., adjusted current liabilities

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Current liabilities 95,827 90,052 81,992 87,280 97,312
Adjustments
Less: Current product warranties 2,448 2,275 1,900 1,527 1,267
After Adjustment
Adjusted current liabilities 93,379 87,777 80,092 85,753 96,045

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).


Adjustments to Total Liabilities

Boeing Co., adjusted total liabilities

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Total liabilities 154,240 152,948 153,398 170,211 141,925
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1
Less: Deferred tax liabilities2 229 230 218 1,010 413
Less: Product warranties 2,448 2,275 1,900 1,527 1,267
After Adjustment
Adjusted total liabilities 151,563 150,443 151,280 167,674 140,245

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Boeing Co., adjusted shareholders’ deficit

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Shareholders’ deficit (17,233) (15,883) (14,999) (18,316) (8,617)
Adjustments
Less: Net deferred tax assets (liabilities) after valuation allowance1 (170) (167) (141) (924) 270
Add: Valuation allowance 89 116 390 444 73
Add: Product warranties 2,448 2,275 1,900 1,527 1,267
Add: Noncontrolling interests 5 35 153 241 317
After Adjustment
Adjusted total deficit (14,521) (13,290) (12,415) (15,180) (7,230)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Net deferred tax assets (liabilities) after valuation allowance. See details »


Adjustments to Capitalization Table

Boeing Co., adjusted capitalization table

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Short-term debt and current portion of long-term debt 5,204 5,190 1,296 1,693 7,340
Long-term debt, excluding current portion 47,103 51,811 56,806 61,890 19,962
Total reported debt 52,307 57,001 58,102 63,583 27,302
Shareholders’ deficit (17,233) (15,883) (14,999) (18,316) (8,617)
Total reported capital 35,074 41,118 43,103 45,267 18,685
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1
Add: Current portion of operating lease liabilities2 296 276 268 268 252
Add: Non-current portion of operating lease liabilities3 1,518 1,305 1,271 1,084 978
Adjusted total debt 54,121 58,582 59,641 64,935 28,532
Adjustments to Equity
Less: Net deferred tax assets (liabilities) after valuation allowance4 (170) (167) (141) (924) 270
Add: Valuation allowance 89 116 390 444 73
Add: Product warranties 2,448 2,275 1,900 1,527 1,267
Add: Noncontrolling interests 5 35 153 241 317
Adjusted total deficit (14,521) (13,290) (12,415) (15,180) (7,230)
After Adjustment
Adjusted total capital 39,600 45,292 47,226 49,755 21,302

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current portion of operating lease liabilities. See details »

3 Non-current portion of operating lease liabilities. See details »

4 Net deferred tax assets (liabilities) after valuation allowance. See details »


Adjustments to Reported Income

Boeing Co., adjusted net loss attributable to Boeing Shareholders

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Net loss attributable to Boeing Shareholders (2,222) (4,935) (4,202) (11,873) (636)
Adjustments
Add: Deferred income tax expense (benefit)1 30 (11) (843) 1,264 (1,323)
Add: Increase (decrease) in valuation allowance (27) (274) (54) 371 16
Add: Increase (decrease) in product warranties 173 375 373 260 140
Add: Other comprehensive income (loss), net of tax (755) 2,109 5,474 (980) (1,070)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest (20) (118) (88) (68) (41)
After Adjustment
Adjusted net loss (2,821) (2,854) 660 (11,026) (2,914)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 Deferred income tax expense (benefit). See details »