The Boeing Company and Subsidiaries | |||
Consolidated Statements of Cash Flows | |||
(Unaudited) | |||
|
| |||
|
| Six months ended
| ||
(Dollars in millions) | 2019 |
| 2018 |
Cash flows – operating activities: |
|
|
|
Net (loss)/earnings | ($793) |
| $4,673 |
Adjustments to reconcile net earnings to net cash provided by operating activities: |
|
|
|
Non-cash items – |
|
|
|
Share-based plans expense | 104 |
| 98 |
Depreciation and amortization | 1,067 |
| 1,008 |
Investment/asset impairment charges, net | 70 |
| 44 |
Customer financing valuation adjustments | 249 |
| (2) |
Gain on dispositions, net | (300) |
| (7) |
Other charges and credits, net | 145 |
| 112 |
Changes in assets and liabilities – |
|
|
|
Accounts receivable | 588 |
| 62 |
Unbilled receivables | (222) |
| (1,675) |
Advances and progress billings | 1,842 |
| 2,931 |
Inventories | (5,233) |
| 408 |
Other current assets | (887) |
| 2 |
Accounts payable | 2,002 |
| 682 |
Accrued liabilities | 4,959 |
| (922) |
Income taxes receivable, payable and deferred | (921) |
| 269 |
Other long-term liabilities | (509) |
| (65) |
Pension and other postretirement plans | (390) |
| (57) |
Customer financing, net | 347 |
| (97) |
Other | 80 |
| 352 |
Net cash provided by operating activities | 2,198 |
| 7,816 |
Cash flows – investing activities: |
|
|
|
Property, plant and equipment additions | (922) |
| (770) |
Property, plant and equipment reductions | 331 |
| 41 |
Acquisitions, net of cash acquired | (492) |
|
|
Contributions to investments | (496) |
| (1,537) |
| Proceeds from investments | 758 |
| 1,028 |
| Purchase of distribution rights | (20) |
| (56) |
| Other | (12) |
| (1) |
| Net cash used by investing activities | (853) |
| (1,295) |
| Cash flows – financing activities: |
|
|
|
| New borrowings | 11,670 |
| 3,648 |
| Debt repayments | (6,422) |
| (2,708) |
| Contributions from noncontrolling interests | 7 |
| 20 |
| Stock options exercised | 47 |
| 61 |
| Employee taxes on certain share-based payment arrangements | (238) |
| (236) |
| Common shares repurchased | (2,651) |
| (5,965) |
| Dividends paid | (2,317) |
| (1,997) |
| Net cash provided/(used) by financing activities | 96 |
| (7,177) |
| Effect of exchange rate changes on cash and cash equivalents, including restricted | (2) |
| (36) |
| Net increase/(decrease) in cash & cash equivalents, including restricted | 1,439 |
| (692) |
| Cash & cash equivalents, including restricted, at beginning of year | 7,813 |
| 8,887 |
| Cash & cash equivalents, including restricted, at end of period | 9,252 |
| 8,195 |
| Less restricted cash & cash equivalents, included in Investments | 85 |
| 74 |
| Cash and cash equivalents at end of period | $9,167 |
| $8,121 |
The Boeing Company and Subsidiaries
