The Boeing Company and Subsidiaries
Consolidated Statements of Cash Flows
(Unaudited)
Twelve months ended
December 31
(Dollars in millions)
2020 2019
Cash flows – operating activities:
Net loss ($11,941) ($636)
Adjustments to reconcile net loss to net cash (used)/provided by operating activities:
Non-cash items –
Share-based plans expense 250 212
Treasury shares issued for 401(k) contribution 195
Depreciation and amortization 2,246 2,271
Investment/asset impairment charges, net 410 443
Customer financing valuation adjustments 12 250
Gain on dispositions, net (202) (691)
777X reach-forward loss 6,493
Other charges and credits, net 1,462 334
Changes in assets and liabilities –
Accounts receivable 909 603
Unbilled receivables 919 982
Advances and progress billings (1,060) 737
Inventories (11,002) (12,391)
Other current assets 372 (682)
Accounts payable (5,363) 1,600
Accrued liabilities 1,074 7,781
Income taxes receivable, payable and deferred (2,576) (2,476)
Other long-term liabilities (222) (621)
Pension and other postretirement plans (794) (777)
Customer financing, net 173 419
Other 235 196
Net cash used by operating activities (18,410) (2,446)
Cash flows – investing activities:
Property, plant and equipment additions (1,303) (1,834)
Property, plant and equipment reductions 296 334
Acquisitions, net of cash acquired (455)
Proceeds from dispositions 464
Contributions to investments (37,616) (1,658)
Proceeds from investments 20,275 1,759
Purchase of distribution rights (127)
Other (18) (13)
Net cash used by investing activities (18,366) (1,530)
Cash flows – financing activities:
New borrowings 47,248 25,389
Debt repayments (10,998) (12,171)
Contributions from noncontrolling interests 7
Stock options exercised 36 58
Employee taxes on certain share-based payment arrangements (173) (248)
Common shares repurchased (2,651)
Dividends paid (1,158) (4,630)
Other (15)
Net cash provided by financing activities 34,955 5,739
Effect of exchange rate changes on cash and cash equivalents, including restricted 85 (5)
Net (decrease)/increase in cash & cash equivalents, including restricted (1,736) 1,758
Cash & cash equivalents, including restricted, at beginning of year 9,571 7,813
Cash & cash equivalents, including restricted, at end of period 7,835 9,571
Less restricted cash & cash equivalents, included in Investments 83 86
Cash and cash equivalents at end of period $7,752 $9,485
10