Stock Analysis on Net

Boeing Co. (NYSE:BA)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Boeing Co., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Accounts payable
Accrued liabilities
Advances and progress billings
Short-term debt and current portion of long-term debt
Liabilities held for sale
Current liabilities
Deferred income taxes
Accrued retiree health care
Accrued pension plan liability, net
Other long-term liabilities
Long-term debt, excluding current portion
Long-term liabilities
Total liabilities
Mandatory convertible preferred stock, 6.00% Series A, par value $1.00
Common stock, par value $5.00
Additional paid-in capital
Treasury stock, at cost
Retained earnings
Accumulated other comprehensive loss
Shareholders’ equity (deficit)
Noncontrolling interests
Total equity (deficit)
Total liabilities and equity (deficit)

Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


The balance sheet reveals notable fluctuations in liabilities and stockholders’ equity over the observed period, spanning from March 2021 to December 2025. Current liabilities generally decreased from March 2021 to December 2021, then increased through December 2023, before decreasing again in the final periods. Long-term liabilities exhibited a similar pattern, with a general decline from 2021 to 2023, followed by an increase in 2024 and a subsequent decrease in 2025. Total liabilities mirrored these trends, peaking in the September 2023 period.

Accounts Payable
Accounts payable demonstrated a consistent decline from $12.410 billion in March 2021 to $9.261 billion in December 2021. Subsequently, it experienced a gradual increase, reaching $13.109 billion in December 2025, with some quarterly variations. This suggests potential shifts in supplier credit terms or purchasing patterns.
Accrued Liabilities
Accrued liabilities remained relatively stable between March 2021 and September 2022, fluctuating around the $18 billion to $21 billion range. A significant increase was observed in the final quarters of 2023 and into 2025, reaching $27.141 billion in December 2025. This substantial rise warrants further investigation to determine the underlying causes, potentially related to increased operational expenses or changes in accounting practices.
Advances and Progress Billings
Advances and progress billings remained relatively consistent between $50 billion and $56 billion throughout the period. A slight upward trend is observable in the later periods, peaking at $60.333 billion in December 2024 before decreasing slightly.
Short-Term Debt
Short-term debt exhibited considerable volatility. It decreased significantly from $6.021 billion in March 2021 to $1.296 billion in December 2021, then increased again, peaking at $8.719 billion in June 2025. This suggests active management of short-term financing needs.
Long-Term Debt
Long-term debt, excluding the current portion, generally decreased from $57.554 billion in March 2021 to $47.103 billion in December 2022. An increase occurred in 2024, reaching $53.176 billion, followed by a decrease to $45.637 billion in December 2025. This indicates strategic debt management, potentially involving refinancing or repayment activities.
Shareholders’ Equity
Shareholders’ equity experienced a consistent decline throughout the period, moving from a deficit of -$18.058 billion in March 2021 to a deficit of -$8.250 billion in September 2025, before improving to a positive $5.457 billion in December 2025. This significant shift is primarily driven by changes in retained earnings and accumulated other comprehensive loss. The substantial increase in equity in the final period suggests a positive impact from profitability or other equity-enhancing transactions.
Retained Earnings
Retained earnings decreased from $38.073 billion in March 2021 to $27.251 billion in December 2022. A recovery began in 2023 and continued into 2025, reaching $17.252 billion. This indicates a turnaround in profitability after a period of losses or significant dividend payouts.
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss consistently increased in magnitude as a negative value, from -$16.952 billion in March 2021 to -$10.277 billion in December 2025. This suggests ongoing unrealized losses in certain investments or hedging activities.

Overall, the balance sheet reflects a period of financial restructuring and recovery. While liabilities initially decreased, they experienced a resurgence in late 2023 and early 2025, requiring continued monitoring. The significant improvement in shareholders’ equity in the final period is a positive sign, but the underlying drivers should be carefully analyzed to assess sustainability.