(Unaudited)
Effective at the beginning of 2019, all revenues and costs associated with military derivative aircraft production are reported in the Defense, Space & Security segment. Revenues and costs associated with military derivative aircraft production were previously reported in the Commercial Airplanes and Defense, Space & Security segments. Business segment data for 2018 reflects the realignment for military derivative aircraft as well as the realignment of certain programs from Defense, Space & Security to Global Services.
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| Six months ended
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| Three months ended
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(Dollars in millions) | 2019 |
| 2018 |
| 2019 |
| 2018 |
Revenues: |
|
|
|
|
|
|
|
Commercial Airplanes | $16,544 |
| $26,897 |
| $4,722 |
| $13,952 |
Defense, Space & Security | 13,223 |
| 12,581 |
| 6,612 |
| 6,100 |
Global Services | 9,162 |
| 8,047 |
| 4,543 |
| 4,097 |
Boeing Capital | 141 |
| 137 |
| 75 |
| 72 |
Unallocated items, eliminations and other | (402) |
| (22) |
| (201) |
| 37 |
Total revenues | $38,668 |
| $47,640 |
| $15,751 |
| $24,258 |
(Loss)/earnings from operations: |
|
|
|
|
|
|
|
Commercial Airplanes | ($3,773) |
| $3,197 |
| ($4,946) |
| $1,785 |
Defense, Space & Security | 1,822 |
| 1,133 |
| 975 |
| 376 |
Global Services | 1,340 |
| 1,251 |
| 687 |
| 604 |
Boeing Capital | 57 |
| 44 |
| 37 |
| 24 |
Segment operating (loss)/profit | (554) |
| 5,625 |
| (3,247) |
| 2,789 |
Unallocated items, eliminations and other | (1,205) |
| (722) |
| (498) |
| (396) |
FAS/CAS service cost adjustment | 729 |
| 682 |
| 365 |
| 317 |
(Loss)/earnings from operations | (1,030) |
| 5,585 |
| (3,380) |
| 2,710 |
| Other income/(loss), net | 213 |
| 51 |
| 107 |
| (15) |
| Interest and debt expense | (277) |
| (211) |
| (154) |
| (109) |
| (Loss)/earnings before income taxes | (1,094) |
| 5,425 |
| (3,427) |
| 2,586 |
| Income tax benefit/(expense) | 301 |
| (752) |
| 485 |
| (390) |
| Net (loss)/earnings | ($793) |
| $4,673 |
| ($2,942) |
| $2,196 |
|
|
|
|
|
|
|
|
|
| Research and development expense, net: |
|
|
|
|
|
|
|
| Commercial Airplanes | $1,062 |
| $1,099 |
| $498 |
| $550 |
| Defense, Space & Security | 384 |
| 402 |
| 196 |
| 219 |
| Global Services | 73 |
| 71 |
| 33 |
| 37 |
| Other | 173 |
| 19 |
| 99 |
| 21 |
| Total research and development expense, net | $1,692 |
| $1,591 |
| $826 |
| $827 |
|
|
|
|
|
|
|
|
|
| Unallocated items, eliminations and other: |
|
|
|
|
|
|
|
| Share-based plans | ($36) |
| ($36) |
| ($22) |
| ($18) |
| Deferred compensation | (129) |
| (56) |
| (27) |
| (27) |
| Amortization of previously capitalized interest | (45) |
| (48) |
| (21) |
| (23) |
| Customer financing impairment | (250) |
|
|
|
|
|
|
| Research and development expense, net | (173) |
| (19) |
| (99) |
| (21) |
| Eliminations and other unallocated items | (572) |
| (563) |
| (329) |
| (307) |
| Sub-total (included in core operating earnings) | (1,205) |
| (722) |
| (498) |
| (396) |
| Pension FAS/CAS service cost adjustment | 549 |
| 520 |
| 275 |
| 237 |
| Postretirement FAS/CAS service cost adjustment | 180 |
| 162 |
| 90 |
| 80 |
| FAS/CAS service cost adjustment | 729 |
| 682 |
| $365 |
| $317 |
| Total | ($476) |
| ($40) |
| ($133) |
| ($79) |
