Company: BA
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000012927-25-000015
Chunk: 144

Company: BOEING CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 8
Chunk 144
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 third-party aircraft value publications. The values provided by the third-party aircraft publications are derived from their knowledge of market trades and other market factors. Management reviews the publications quarterly to assess the continued appropriateness and consistency with market trends. Under certain circumstances, we adjust values based on the attributes and condition of the specific aircraft or equipment, usually when the features or use of the aircraft vary significantly from the more generic aircraft attributes covered by third-party publications, or on the expected net sales price for the aircraft.For Level 3 operating lease equipment that were measured at fair value on a nonrecurring basis during the period ended December 31, 2024, the following table presents the fair value of those assets as of the measurement date, valuation techniques and related unobservable inputs of those assets.FairValueValuationTechniqueUnobservable InputRangeMedian or AverageOperating lease equipment$15Market approachAircraft value publications$21 - $27(1)Median $23Aircraft condition adjustments($8) - $0(2)Net ($8)(1)The range represents the sum of the highest and lowest values for all aircraft subject to fair value measurement, according to the third-party aircraft valuation publications that we use in our valuation process.(2)The negative amount represents the sum, for all aircraft subject to fair value measurement, of all downward adjustments based on consideration of individual aircraft attributes and condition.Fair Value DisclosuresThe fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the Consolidated Statements of Financial Position at December 31 were as follows:December 31, 2024Carrying AmountTotal Fair ValueLevel 1Level 2Level 3AssetsNotes receivable, net$940 $953 $941 $12 LiabilitiesDebt, excluding finance lease obligations(53,625)(51,089)(51,089)

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December 31, 2023Carrying AmountTotal Fair ValueLevel 1Level 2Level 3AssetsNotes receivable, net$257 $270 $270 LiabilitiesDebt, excluding finance lease obligations(52,055)(51,039)(51,039)The fair value of Notes receivable classified as Level 2 is estimated with discounted cash flow analysis using interest rates currently offered on loans with similar terms to borrowers of similar credit quality. The fair value of Notes receivable classified as Level 3 is based on our best estimate using available counterparty financial data. The fair value of our