Company: BA
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000012927-25-000015
Chunk: 36

Company: BOEING CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 1
Chunk 36
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 primarily due to higher deferred compensation expense.

Core operating loss increased by $9,982 million in 2024 compared with 2023 and decreased by $2,833 million in 2023 compared with 2022 primarily due to changes in Segment operating loss as described above.

27

Unallocated Items, Eliminations and Other  

The most significant items included in Unallocated items, eliminations and other (expense)/income are shown in the following table:

(Dollars in millions)Years ended December 31,202420232022Share-based plans$171 $62 ($114)Deferred compensation(114)(188)117 Amortization of previously capitalized interest(93)(95)(95)Research and development expense, net(377)(315)(278)Eliminations and other unallocated items(1,634)(1,223)(1,134)Unallocated items, eliminations and other($2,047)($1,759)($1,504)

Share-based plans income increased by $109 million in 2024 primarily due to fewer outstanding share-based awards in 2024 and the timing of corporate allocations. Share-based plans expense decreased by $176 million in 2023 primarily due to fewer share-based grants and the timing of corporate allocations.

Deferred compensation expense decreased by $74 million in 2024 primarily driven by changes in our stock price. Deferred compensation expense increased by $305 million in 2023 primarily driven by changes in broad stock market conditions.

Research and development expense increased by $62 million in 2024 and $37 million in 2023 primarily due to increased spending on enterprise product development.

Eliminations and other unallocated items expense increased by $411 million in 2024 primarily due to a second quarter earnings charge of $244 million that reflects a fine that would be paid if an agreement with the U.S. Department of Justice is approved by the federal district court. Eliminations and other unallocated items was largely unchanged in 2023 compared to 2022. 

Net periodic pension benefit costs included in Loss from operations were as follows:

(Dollars in millions)PensionYears ended December 31,202420232022Allocated to business segments($816)($801)($852)Pension FAS/CAS service cost adjustment811 799 849 Net periodic pension benefit cost included in Loss from operations($5)($2)($3)

The pension FAS/CAS service cost adjustment recognized in Loss from operations was largely consistent in 2024 compared with