(Unaudited)
The tables provided below reconcile the non-GAAP financial measures core operating (loss)/earnings, core operating margin, and core (loss)/earnings per share with the most directly comparable GAAP financial measures, (loss)/earnings from operations, operating margin, and diluted (loss)/earnings per share. See page 6 of this release for additional information on the use of these non-GAAP financial measures.
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| |||||||
(Dollars in millions, except per share data) | Second Quarter 2019 |
| Second Quarter 2018 | ||||
|
| $ millions |
| Per Share |
| $ millions |
| Per Share |
Revenues | 15,751 |
|
|
| 24,258 |
|
|
(Loss)/earnings from operations (GAAP) | (3,380) |
|
|
| 2,710 |
|
|
Operating margin (GAAP) | (21.5)% |
|
|
| 11.2% |
|
|
|
|
|
|
|
|
|
|
|
FAS/CAS service cost adjustment: |
|
|
|
|
|
|
|
Pension FAS/CAS service cost adjustment | (275) |
|
|
| (237) |
|
|
Postretirement FAS/CAS service cost adjustment | (90) |
|
|
| (80) |
|
|
FAS/CAS service cost adjustment | (365) |
|
|
| (317) |
|
|
Core operating (loss)/earnings (non-GAAP) | ($3,745) |
|
|
| $2,393 |
|
|
Core operating margin (non-GAAP) | (23.8)% |
|
|
| 9.9% |
|
|
|
|
|
|
|
|
|
|
|
Diluted (loss)/earnings per share (GAAP) |
|
| ($5.21) |
|
|
| $3.73 |
Pension FAS/CAS service cost adjustment | ($275) |
| (0.49) |
| ($237) |
| (0.40) |
Postretirement FAS/CAS service cost adjustment | (90) |
| (0.16) |
| (80) |
| (0.14) |
Non-operating pension expense | (94) |
| (0.17) |
| (6) |
| (0.01) |
Non-operating postretirement expense | 26 |
| 0.05 |
| 24 |
| 0.04 |
Provision for deferred income taxes on adjustments 1 | 91 |
| 0.16 |
| 63 |
| 0.11 |
Subtotal of adjustments | ($342) |
| ($0.61) |
| ($236) |
| ($0.40) |
| Core (loss)/earnings per share (non-GAAP) |
|
| ($5.82) |
|
|
| $3.33 |
|
|
|
|
|
|
|
|
|
| Weighted average diluted shares (in millions) |
|
| 565.3 |
|
|
| 588.7 |
|
|
| 1 The income tax impact is calculated using the U.S. corporate statutory tax rate . |
The Boeing Company and Subsidiaries
