Company: BA
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000012927-25-000031
Chunk: 98

Company: BOEING CO
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 3
Chunk 98
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 global supply chain stabilizes, and labor instability diminishes.

Earnings/(loss) from Operations

The following table summarizes Earnings/(loss) from operations:

(Dollars in millions)Three months ended March 3120252024Commercial Airplanes($537)($1,143)Defense, Space & Security155 151 Global Services943 916 Segment operating earnings/(loss)561 (76)Unallocated items, eliminations and other(362)(312)Pension FAS/CAS service cost adjustment193 230 Postretirement FAS/CAS service cost adjustment69 72 Earnings/(loss) from operations (GAAP)$461 ($86)FAS/CAS service cost adjustment * (262)(302)Core operating earnings/(loss) (Non-GAAP) **$199 ($388)

*    The 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.

**    Core operating earnings/(loss) is a Non-GAAP measure that excludes the FAS/CAS service cost adjustment. See pages 47-48.

Earnings from operations for the three months ended March 31, 2025, was $461 million compared to loss from operations of $86 million during the same period in 2024. BCA loss from operations decreased by $606 million reflecting higher deliveries, the absence of 737-9 customer considerations and lower period expenses. BGS earnings from operations increased by $27 million primarily due to higher government 

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services revenue. BDS earnings from operations increased by $4 million compared to the same period in 2024 primarily due to lower net unfavorable cumulative contract catch-up adjustments, largely offset by lower earnings from equity method investments and lower volume. Loss from operations on Unallocated items, eliminations and other increased by $50 million compared with the same period in 2024 primarily due to an increase in eliminations and other unallocated items expense.

Core operating earnings for the three months ended March 31, 2025, increased by $587 million compared with the same period in 2024, primarily due to an increase in Segment operating earnings as described above.

For information related to Postretirement Plans, see Note 12 to our Condensed Consolidated Financial Statements. 

Unallocated Items, Eliminations and Other

The most significant items included in Unallocated items, eliminations and other (expense)/income