Company: BA
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000012927-25-000062
Chunk: 73

Company: BOEING CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 73
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 188 101 99 Total$1,754 $1,822 $910 $954 

Research and development expense decreased by $68 million and $44 million during the six and three months ended June 30, 2025, compared to the same periods in 2024. The decrease in expense was primarily due to lower spending at BDS.

Backlog

(Dollars in millions)June 302025December 312024Commercial Airplanes$522,197 $435,175 Defense, Space & Security73,957 64,023 Global Services21,939 21,403 Unallocated items, eliminations and other445 735 Total Backlog$618,538 $521,336 Contractual backlog$583,747 $498,802 Unobligated backlog34,791 22,534 Total Backlog$618,538 $521,336 

Contractual backlog of unfilled orders excludes purchase options, announced orders for which definitive contracts have not been executed, orders where customers have the unilateral right to terminate, and unobligated U.S. and non-U.S. government contract funding. The increase in contractual backlog of $84,945 million during the six months ended June 30, 2025, was primarily due to an $87,022 million increase in BCA backlog. 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.

Unobligated backlog includes U.S. and non-U.S. government definitive contracts for which funding has not been authorized. The increase of $12,257 million in unobligated backlog during the six months ended June 30, 2025 was due to an increase in BDS backlog.

42

Additional Considerations

U.S. Government Funding Considerable uncertainty exists regarding how future U.S. government budget and program decisions will unfold, including the spending priorities of the Administration and Congress.

The Full-Year Continuing Appropriations and Extensions Act, 2025, enacted on March 15, 2025, largely continues federal funding at fiscal year 2024 appropriated levels through September 30, 2025. This bill has been deemed to be a full-year appropriations bill in respect to satisfying the requirements of the Fiscal Responsibility Act, avoiding a sequester of defense and non-defense spending in fiscal year