Company: BA
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-047023
Chunk: 28

Company: BOEING CO
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 3
Chunk 28
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 capital improvements.

Non-cash items for the nine months ended September 30, 2025, was $8.3 billion compared with $6.3 billion during the same period in 2024. The change in Non-cash items was primarily due to higher 777X reach-forward losses recorded during the nine months ended September 30, 2025 compared with the same period in 2024.

Changes in assets and liabilities during the nine months ended September 30, 2025, improved by $4.4 billion compared with the same period in 2024, primarily driven by favorable changes in Inventories ($6.7 billion) and Accounts payable ($0.4 billion), partially offset by unfavorable changes in Advances and progress billings ($3.7 billion). The change in Inventories was primarily driven by higher deliveries on our commercial airplane programs during the nine months ended September 30, 2025, as compared to the same period in 2024. The change in Accounts payable during the nine months ended September 30, 2025, compared to the same period in 2024 reflects increased production primarily in our commercial airplanes business. The change in Advances and progress billings during the nine months ended September 30, 2025, compared to the same period in 2024 was primarily driven by increased commercial airplane deliveries and revenue recognized at BDS, partially offset by higher advances on commercial airplane orders. Concessions paid to 737 MAX customers totaled $0.1 billion and $0.8 billion for the nine months ended September 30, 2025 and 2024.

Payables to suppliers who elected to participate in supply chain financing programs decreased by $0.8 billion and $0.2 billion during the nine months ended September 30, 2025 and 2024. Supply chain financing is not material to our overall liquidity.

Investing Activities Net cash used by investing activities during the nine months ended September 30, 2025, was $5.9 billion, compared with net cash provided of $0.7 billion during the same period in 2024. The increase in cash used was primarily due to net contributions to investments of $3.7 billion in 2025 compared with net proceeds from investments of $2.8 billion in 2024. During the nine months ended September 30, 2025 and 2024, capital expenditures were $2.0 billion and $1.6 billion. We continue to expect capital expenditures in 2025