Documents

Boeing AR 3-9-12 SECURED 2-Reduced

Description
The Boeing Company Company 2011Annual Report 201 Annual Report 1 At Boeing, we aspire to be the strongest, best and best-integrated aerospace-based company in the world—for today and tomorrow. The Boeing Company Boeing is the world’s largest aerospace company and leading manufacturer of commercial airplanes and defense, space and security systems. The top U.S. exporter, Boeing supports airlines and U.S. and allied government customers in more than 150 countries. Our products and tailored ser
Categories
Published
of 144
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Related Documents
Share
Transcript
  The Boeing Company 2011 Annual Report   The Boeing Company 2011 Annual Report  The Boeing Company Boeing is the world’s largest aerospace companyand leading manufacturer of commercial airplanesand defense, space and security systems. The topU.S. exporter, Boeing supports airlines and U.S.and allied government customers in more than 150countries. Our products and tailored services includecommercial and military aircraft, satellites, weapons,electronic and defense systems, launch systems,advanced information and communication systems,and performance-based logistics and training. Withcorporate ofces in Chicago, Boeing employs morethan 171,700 people across the United States and in70 countries. In addition, our enterprise leverages thetalents of hundreds of thousands of skilled peopleworking for Boeing suppliers worldwide.  At Boeing, we aspire to be the strongest, bestand best-integrated aerospace-based companyin the world—for today and tomorrow. Contents Operational Summary 1Message From Our Chairman 2 The Executive Council 7Financial Results 8Form 10-K 9Selected Programs, Productsand Services 122Shareholder Information 129Board of Directors 130Company Ofcers 130 Cover Photo: 747-8 Intercontinental Photo Above:   F-15E Strike Eagle  1 — Reportednetincomeof$4billion,or$5.33pershare,a21percentrisefrom$3.3billion,or$4.46pershare,in2010. — Deliveredrecordrevenuesof$68.7billion,a7percentincreasecomparedto$64.3billionin2010. —  Added$103billioninneworders,expandingourbacklogtoarecord$355billion—morethanvetimes2011revenues. — Generatedstrongoperatingcashowof$4billionandcashandmarketablesecuritiesof$11.3billion,maintainingcontinuedhealthyliquidity. — Delivered477commercialairplanes,includingtherst787Dreamlinersand747-8Freighters,the7,000th737andthe1,000th767,andcompletedFAAcerticationonthe747-8Intercontinental. — Won805netcommercialairplaneorders,includ-ingarecord200ordersforthe777,and150rmordersforthenew737MAX;backloggrewto3,771airplanesvaluedatarecord$296billion. — Delivered115productionmilitaryaircraftandfoursatellites,maintainingBoeingDefense,Space&Securityrevenuesat2010levels,withabacklogof$60billion. — Capturedkeynewandfollow-onDefense,Space&Securitybusiness,includingtheU.S.AirForceKC-46tankerprogram;therstproductioncon-tractfortheU.S.Navy’sP-8APoseidon;aU.S.agreementwithSaudiArabiaforthelargest-everforeignsaleofF-15s;acontractfromtheU.S.MissileDefenseAgencyforGround-basedMidcourseDefense;theC-17IntegratedSustain-mentProgramfortheU.S.AirForce;andcontractstobegindesignanddevelopmentofthecorerocketstagesandavionicssystemforNASA’snewmannedSpaceLaunchSystem. — Openedournew787nalassemblyfacilityanddeliverycenterinSouthCarolina;raisedproductionratestomeetrisingdemandforallcommercialairplanemodels;andsignedanearly,four-yearcontractextensionwithourmachinistsunioninPugetSound,PortlandandWichita. —  AchievedkeyDefense,Space&Securitypro-grammilestones,includingighttestingoftherstChinooksfortheUnitedKingdomandNetherlands,rstcombatdeploymentoftheEA-18GGrowlerbytheU.S.Navy,rstightofthePhantomRayunmannedairbornesystem,rstightoftheP-8Imaritimesurveillanceaircraftfor Indiaandthenalspaceshuttlemission. —  Advancedourenvironmentalstewardshipbyhelp-ingleadindustryeffortstoapprovesustainablebiofuelsforcommercialandmilitaryights;reliedonhydroelectricandrenewableenergysourcesfor nearlyhalfofourtotalelectricalconsump-tion;andwererecognizedasanENERGYSTARPartneroftheYearbytheU.S.EnvironmentalProtectionAgency.   2011  2010 2009 2008 2007 Revenues  68,735  64,306 68,281 60,909 66,387Net earnings  4,018  3,307 1,312 2,672 4,074Earnings per share*  5.33  4.46 1.87 3.65 5.26Operating margins  8.5%  7.7% 3.1% 6.5% 8.8%Contractual backlog  339,657  303,955 296,500 323,860 296,964 Total backlog †   355,432  320,826 315,558 351,926 327,137 2011 Financial Highlights U.S. dollars in millions except per share data *Represents diluted earnings per share from continuing operations.† Total backlog includes contractual and unobligated backlog. See page 22 of the 10-K.   Operational Summary  2 W. James McNerney, Jr.Chairman, President andChief Executive Ofcer 2011 Review OurcoreproductionprogramsandservicesbusinessesinBoeingCommercialAirplanesandBoeingDefense,Space&Securityperformedexceptionallywellin2011,leadingtooperatingmarginsnear10percentineachofthesebusinesses.Wenishedtheyearwithrecordrevenuesof$68.7bil-lion.Netearningsnearlyequaledanall-timehighatmorethan$4billion.Andourstrongoperatingcashowof$4billionmaintainedhealthyliquidityof$11.3billion. Boeing Commercial Airplanes delivered477airplanesin2011andrecorded805neworders(netofcancella-tions),includinga150-planelaunchorderforournew737MAX.Wealsoextendedourmarket-shareleadinthetwin-aislesegmentwitharecord200ordersforthe777andakeysaleof27new767freighters.Commercial AviationServicescontinueditsdouble-digitgrowthtrajectory,increasingrevenues11percent.Perhapsmostimportant,duringtheyearweusheredinanewerainaviationandretiredkeytechnicalandbusinessriskswiththecerticationandrstdeliveriesofthe787Dreamlinerand747-8Freighter.Gettingtothispointonthesetechnicallychallengingprogramswasnoteasy.Butthankstothepassionandingenuityofourpeople,wehavecreatedtwoincrediblenewairplanesthatwilldeliversignicantvaluetoourcustomersandtoBoeingfordecadestocome.Theairplanesareperformingwellinservice,earningpraisefrompassengersandoperators.Likewise,customerresponsetoourlaunchofthe737MAXwasswiftandpositive.Inonlyfourmonths,wereceivedmorethan1,000ordersandcommitmentsforthisnew-enginevariantofthesingle-aisle737,whichwillbe10to12percentmorefuelefcientthantoday’s737andcostsignicantlylesstooperatethanitscompetitors.Withdevelopmentcostsandrisksfarbelowanall-newairplane,the737MAXwillprovidecustomersthecapabilitiestheywant,atapricetheyarewillingtopay,onashorter,morecertaintimeline.Thisapproachisanall-aroundwinnerforBoeing,too.Wemaintainourqualitativeadvantageovercompetitorsinthesegment,wefreeupresourcestoinvestinothergrowthprojects,andwereduceourbusi-nessrisksubstantiallyforthenextdecade. To the Shareholders and Employees of The Boeing Company: 2011was awatershedforBoeing—apivotalyearinwhichwedeliveredstrongoperatingresultsandmadesubstantialprogressonthebusinessandproductstrategiesthatarecriticaltoourfutureandourcustomers’success.TheunrelentingfocusofBoeingemployeesonprogramperformance,productivityimprovement,andteamworkresultedinnear-recordnancialperformanceandaslateofaccomplishmentsrivalingthatofanyyearinrecentmemory.Boeingisastronger,morecompetitivecompanyin2012—withaclearerviewofourfutureandanunprecedentedopportunityforgrowthintheyearsahead.
Search
Similar documents
View more...
Tags
Related Search
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks