Company: BA
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000012927-25-000015
Chunk: 142

Company: BOEING CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 8
Chunk 142
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 amount of the derivatives outstanding.(Losses)/gains associated with our hedging transactions and forward points recognized in Other comprehensive income are presented in the following table:Years ended December 31, 202420232022Recognized in Other comprehensive income, net of taxes:Foreign exchange contracts($248)$61 ($118)Commodity contracts(10)(20)78 

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(Losses)/gains associated with our hedging transactions and forward points reclassified from AOCI to earnings are presented in the following table:Years ended December 31,202420232022Foreign exchange contractsRevenues($1)$1 Costs and expenses(25)($15)7 General and administrative(8)(17)(12)Commodity contractsCosts and expenses($7)$31 $31 General and administrative expense6 7 10 During the year ended December 31, 2022, we reclassified losses associated with certain cash flow hedges of $50 from AOCI to Other income, net because it became probable the forecasted transactions would not occur. Gains/(losses) related to undesignated derivatives on foreign exchange and commodity cash flow hedging transactions recognized in Other income, net were insignificant for the years ended December 31, 2024, 2023 and 2022.Based on our portfolio of cash flow hedges, we expect to reclassify losses of $64 (pre-tax) out of AOCI into earnings during the next 12 months.We have derivative instruments with credit-risk-related contingent features. If we default on our five-year credit facility, our derivative counterparties could require settlement for foreign exchange and certain commodity contracts with original maturities of at least five years. The fair value of those contracts in a net liability position at December 31, 2024 was $22. For other particular commodity contracts, our counterparties could require collateral posted in an amount determined by our credit ratings. At December 31, 2024, there was no collateral posted related to our derivatives.

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Note 21 – Fair Value Measurements

The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant unobservable inputs. The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are