The Boeing Company 100 North Riverside Plaza Chicago, IL 60606-1596 U.S.A. The Boeing Company The Boeing Company 2009 Annual Report 2009 Annual Report 002CS1A245 69795bo_cvr 1 3/2/10 6:10 PM At Boeing, we aspire to be the Shareholder Information The Boeing Company Duplicate Shareholder Accounts Company Shareholder Services strongest, best and best-integrated 100 North Riverside Plaza Registered shareholders with duplicate accounts Prerecorded shareholder information is Chicago, IL 60606-1596 may contact Computershare for instructions available toll-free from Boeing Shareholder aerospace-based company in the U.S.A. regarding the consolidation of those accounts. Services at 800-457-7723. 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If you are a reg- The Boeing Company Equal Opportunity Employer istered shareholder and want Internet access Mail Code 5003-2001 Boeing is an equal opportunity employer and either need a password or have lost your 100 North Riverside Plaza and seeks to attract and retain the best- password, please click on Computershare’s Chicago, IL 60606-1596 qualifi ed people regardless of race, color, Internet home page (see above Web site U.S.A. religion, national origin, gender, sexual The Boeing Company Contents address) and, as appropriate, either click on orientation, age, disability or status as a “Login” or “Forgotten Password?” or “Create disabled or Vietnam Era Veteran. Boeing is the world’s largest aerospace 1 Operational Summary Login” on the left panel of the page. company and leading manufacturer of 2 Message From Our Chairman commercial airplanes and defense, space and security systems. A top U.S. exporter, 7 The Executive Council the company supports airlines and U.S. 8 Financial Results and allied government customers in more 9 Form 10-K than 90 countries. Our products and tailored services include commercial and 139 Selected Programs, Products military aircraft, satellites, weapons, and Services electronic and defense systems, launch 146 Board of Directors systems, advanced information and communication systems, and performance- 146 Company Offi cers based logistics and training. With corporate 147 Shareholder Information offi ces in Chicago, Boeing employs more than 157,000 people across the United States and in 70 countries. Our leadership is strengthened further by hundreds of thousands of people who work for Boeing The Boeing Company Annual Report was printed with 100-percent certifi ed wind-powered energy on suppliers worldwide. Printed in the U.S.A. Forestry Stewardship Council certifi ed paper that contains at least 10 percent post-consumer waste. 69795bo_cvr 2 3/3/10 10:49 PM Operational Operational Summary Summary 2009 Financial Highlights U.S. dollars in millions except per share data 2009 2008 2007 2006 2005 Revenues 68,281 60,909 66,387 61,530 53,621 Net earnings 1,312 2,672 4,074 2,215 2,572 Earnings per share* 1.87 3.65 5.26 2.84 3.19 Operating margins 3.1% 6.5% 8.8% 4.9% 5.2% Contractual backlog 296,500 323,860 296,964 216,563 160,637 Total backlog† 315,558 351,926 327,137 250,211 205,215 * Represents diluted earnings per share from continuing operations †Total backlog includes contractual and unobligated backlog. See page 20 of the 10-K. – Delivered record revenue of $68.3 – Achieved critical Boeing Commercial billion — up 12 percent from 2008 — on Airplanes milestones with fi rst fl ight of the higher commercial deliveries and growth 787 Dreamliner, delivery of the fi rst 777 in our defense, space and security Freighter, delivery of the 6,000th 737 and business. breaking ground on a 787 fi nal assembly facility in North Charleston, South Carolina. – Earned $1.87 per share, down from $3.65 a share, due principally to the – Met key Defense, Space & Security reclassifi cation of certain 787 costs, the milestones, including approval of full-rate impact of diffi cult market conditions and production for the EA-18G, fi rst fl ight of increased development costs for the the P-8A Poseidon, delivery of the fi rst of 747-8 program. 24 F/A-18F Super Hornets for the Royal Australian Air Force, approval of low- – Maintained a total backlog of rate production for Increment One of the $316 billion — more than four times Brigade Combat Team Modernization current annual revenue. program (formerly Future Combat Systems) – Generated strong operating cash fl ow and 100-percent mission success on of $5.6 billion for the year, refl ecting 21 space shuttle and satellite launches. disciplined operational and working – Extended our environmental leadership capital management across Boeing. in many areas, including conducting – Delivered 481 commercial airplanes, sustainable biofuel demonstration fl ights; including the most-ever 737 and 777 earning recognition from the investor-led deliveries in a given year, and captured Carbon Disclosure Project as the top- 263 gross orders. performing industrial company in climate- change disclosure; receiving Smart Grid – Delivered 121 production military grants from the U.S. Department of aircraft and six satellites. Energy; and piloting programs to deliver – Captured new Boeing Defense, Space military and commercial airplanes painted & Security business, including an Intelsat with chrome-free primer. satellite contract; key proprietary and services contracts; and international sales of eight P-8I long-range maritime reconnaissance and anti-submarine warfare aircraft to India, 15 Chinooks to Canada and 16 to Italy, and six C-17s to the United Arab Emirates. 1 69795bo_pp1-8 1 3/1/10 4:16 PM Message From Our Chairman W. James McNerney, Jr. Chairman, President and Chief Executive Offi cer 2 69795bo_pp1-8 2 3/1/10 4:16 PM To the Shareholders and Employees of The Boeing Company: Breakthrough innovation is what we do. But it is seldom easy. Add global economic turbulence to the mix, and the chal- lenges of 2009 were among the biggest in our 94-year history. In the end, it was a year of notable aircraft and performing well on the achievement, culminating with the historic Brigade Combat Team Modernization fi rst fl ight of the breakthrough 787 Dream- program (formerly Future Combat liner. Through the tireless determination Systems). However, a reclassifi cation of of employees who proudly serve our cus- costs on the 787 program and higher tomers every day, I believe we’ve turned costs on the 747-8 (due in part to diffi cult momentum in our favor for addressing the market conditions) signifi cantly affected challenges that still lie ahead. our overall fi nancial results. By year’s end, however, our team had made substantial 2009 Review progress on these programs, too.