Company: BA
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000012927-25-000031
Chunk: 77

Company: BOEING CO
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 1
Chunk 77
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 ended March 31, 2025 and 2024. The lower benefits in 2025 were primarily due to lower expected return on plan assets. For further discussion of pension and other postretirement costs see "Management’s Discussion and Analysis of Financial Condition and Results of Operations" on page 28 of our 2024 Annual Report on Form 10-K.

Management uses Core operating earnings/(loss), Core operating margins and Core earnings/(loss) per share for purposes of evaluating and forecasting underlying business performance. Management believes these core earnings measures provide investors additional insights into operational performance as unallocated pension and other postretirement benefit costs primarily represent costs driven by market factors and costs not allocable to U.S. government contracts.

Reconciliation of Non-GAAP Measures to GAAP Measures

The table below reconciles the non-GAAP financial measures of Core operating earnings/(loss), Core operating margins and Core loss per share with the most directly comparable GAAP financial measures of Earnings/(loss) from operations, Operating margins and Diluted loss per share.

(Dollars in millions, except per share data)Three months ended March 3120252024Revenues$19,496 $16,569 Earnings/(loss) from operations, as reported$461 ($86)Operating margins2.4 %(0.5)%Pension FAS/CAS service cost adjustment(1)($193)($230)Postretirement FAS/CAS service cost adjustment(1)(69)(72)FAS/CAS service cost adjustment(1)($262)($302)Core operating earnings/(loss) (non-GAAP)$199 ($388)Core operating margins (non-GAAP)1.0 %(2.3)%Diluted loss per share, as reported($0.16)($0.56)Pension FAS/CAS service cost adjustment(1)(0.26)(0.37)Postretirement FAS/CAS service cost adjustment(1)(0.09)(0.12)Non-operating pension income(2)(0.06)(0.20)Non-operating postretirement income(2)(0.01)(0.03)Provision for deferred income taxes on adjustments(3)0.09 0.15 Core loss per share (non-GAAP)($0.49)($1.13)Diluted weighted average common shares outstanding (in millions)753.4 612.9 

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