Company: BA
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000012927-25-000062
Chunk: 112

Company: BOEING CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 3
Chunk 112
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 the business segments.

**    Core operating earnings/(loss) is a Non-GAAP measure that excludes the FAS/CAS service cost adjustment. See pages 53-54.

Earnings from operations for the six months ended June 30, 2025, was $285 million compared to loss from operations of $1,176 million during the same period in 2024. The $1,461 million increase in earnings is primarily driven by Defense, Space & Security (BDS) ($1,027 million) and BCA ($764 million), partially offset by an increase in Loss from operations on Unallocated items, eliminations and other ($451 million).

Loss from operations for the three months ended June 30, 2025, decreased by $914 million compared with the same period in 2024. The decrease in loss is primarily driven by BDS ($1,023 million), partially offset by an increase in Loss from operations on Unallocated items, eliminations and other ($401 million).

39

Core operating loss for the six and three months ended June 30, 2025, decreased by $1,546 million and $959 million compared with the same periods in 2024, primarily due to favorable changes in Segment operating earnings/(loss) as described above.

For information related to Postretirement Plans, see Note 13 to our Condensed Consolidated Financial Statements.

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)Six months ended June 30Three months ended June 302025202420252024Share-based plans($51)$53 ($21)$43 Deferred compensation(80)(49)(85)(19)Amortization of previously capitalized interest(42)(46)(21)(23)Research and development expense, net(183)(188)(101)(99)Eliminations and other unallocated items(1,041)(716)(807)(536)Unallocated items, eliminations and other ($1,397)($946)($1,035)($634)

Share-based plans expense for the six and three months ended June 30, 2025, was $51 million and $21 million compared to share-based plans income of $53 million and $43 million for the same periods in 2024. The increase in share-based plans expense for the six and three months ended June 30, 2025 compared with the same period