Company: BA
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000012927-25-000031
Chunk: 3

Company: BOEING CO
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 2
Chunk 3
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Eliminations and other unallocated items(234)(180)Unallocated items, eliminations and other ($362)($312)

Share-based plans expense increased by $40 million for the three months ended March 31, 2025 compared with the same period in 2024 primarily due to the timing of corporate allocations.

Deferred compensation expense decreased by $35 million for the three months ended March 31, 2025, compared with the same period in 2024 primarily driven by changes in broad stock market conditions.

Research and development expense was largely unchanged during the three months ended March 31, 2025, compared with the same period in 2024.

Eliminations and other unallocated items expense for the three months ended March 31, 2025, increased by $54 million compared with the same period in 2024 primarily due to the timing of allocations.

Other Earnings Items 

(Dollars in millions)Three months ended March 3120252024Earnings/(loss) from operations$461 ($86)Other income, net323 277 Interest and debt expense(708)(569)Earnings/(loss) before income taxes76 (378)Income tax (expense)/benefit(107)23 Net loss(31)(355)Less: net earnings/(loss) attributable to noncontrolling interest6 (12)Net loss attributable to Boeing shareholders($37)($343)

36

Other income, net for the three months ended March 31, 2025, increased by $46 million compared with the same period in 2024, primarily due to an increase in interest income on short-term investments and dividend income, partially offset by non-operating pension income. For information on changes related to non-operating pension and postretirement expenses, see Note 12 to our Condensed Consolidated Financial Statements. 

Interest and debt expense for the three months ended March 31, 2025, increased by $139 million compared with the same period in the prior year primarily as a result of higher average debt balances. 

For a discussion related to Income Taxes, see Note 4 to our Condensed Consolidated Financial Statements.

Total Costs and Expenses (“Cost of Sales”)

Cost of sales, for both products and services, consists primarily of raw materials, parts, sub-assemblies, labor, overhead and subcontracting costs. Our BCA segment predominantly uses program accounting to account for cost of sales. Under program accounting, cost of sales for each commercial aircraft program equals the