The Boeing Company and Subsidiaries

Reconciliation of Non-GAAP Measures

(Unaudited)

The tables provided below reconcile the non-GAAP financial measures core operating earnings, core operating margin, and core earnings per share with the most directly comparable GAAP financial measures, earnings from operations, operating margin, and diluted earnings per share. See page 6 of this release for additional information on the use of these non-GAAP financial measures.

(Dollars in millions, except per share data)

2019 Guidance

Full Year 2018

Full Year 2017

$ millions

Per Share

$ millions

Per Share

$ millions

Per Share

Revenues

101,127

94,005

Earnings from operations (GAAP)

11,987

10,344

Operating margins

11.9%

11.0%

FAS/CAS service cost adjustment:

Pension FAS/CAS service cost adjustment

(1,005)

(1,127)

Postretirement FAS/CAS service cost adjustment

(322)

(311)

FAS/CAS service cost adjustment

~($1,335)

(1,327)

(1,438)

Core operating earnings (non-GAAP)

$10,660

$8,906

Core operating margins (non-GAAP)

10.5%

9.5%

Diluted earnings per share (GAAP)

$21.90 - 22.10

$17.85

$13.85

Pension FAS/CAS service cost adjustment

~($1,335)

($1,005)

(1.71)

($1,127)

(1.84)

Postretirement FAS/CAS service cost adjustment

(322)

(0.55)

(311)

(0.51)

Non-operating pension expense

~($90)

(143)

(0.24)

(117)

(0.19)

Non-operating postretirement expense

101

0.17

123

0.20

Provision for deferred income taxes on adjustments  ¹

287

0.49

501

0.82

Subtotal of adjustments

($1,082)

($1.84)

($931)

($1.52)

Core earnings per share (non-GAAP)

$16.01

$12.33

Weighted average diluted shares (in millions)

560 - 565

586.2

610.7

¹ The income tax impact is calculated using the U.S. corporate statutory tax rate .