Company: BA
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000012927-25-000015
Chunk: 447

Company: BOEING CO
Filing Date: 2025-02-03
Form: 10-K
Item: Item 3
Chunk 447
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1.8)64 (1.3)Impact of subsidiary shares purchased from noncontrolling interests(29)1.5 Other provision adjustments47 (0.3)49 (2.5)116 (2.3)Income tax (benefit)/expense($381)3.1 %$237 (11.8)%$31 (0.6)%(1)     In the second quarter of 2024, we recorded a tax benefit of $490 related to the settlement of the 2018-2020 federal tax audit, which excludes an associated $155 valuation expense that is recorded in the Valuation allowance line.Significant components of our deferred tax assets/(liabilities) at December 31 were as follows:20242023Inventory and long-term contract methods of income recognition($4,765)($5,115)Federal net operating loss, credit, interest and other carryovers(1)4,719 2,551 Research expenditures3,936 2,873 Fixed assets, intangibles and goodwill(1,526)(1,566)State net operating loss, credit, interest and other carryovers(2)1,353 1,137 Other employee benefits1,049 1,162 Pension benefits1,045 1,178 Accrued expenses and reserves 1,029 956 Other postretirement benefit obligations587 590 Other473 614 Gross deferred tax assets/(liabilities) before valuation allowance$7,900 $4,380 Valuation allowance(7,837)(4,550)Net deferred tax assets/(liabilities) after valuation allowance$63 ($170)(1)     Of the deferred tax asset for federal net operating loss, credit, interest and other carryovers, $1,848 expires on or before December 31, 2044 and $2,871 may be carried over indefinitely.(2)     Of the deferred tax asset for state net operating loss, credit, interest and other carryovers, $686 expires on or before December 31, 2044 and $667 may be carried over indefinitely.

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Net deferred tax assets/(liabilities) at December 31 were as follows:20242023Deferred tax assets$17,991 $14,743 Deferred tax liabilities(10,091)(10,363)Valuation allowance(7,837)(4,550)Net deferred tax