Boeing Company – First Quarter Financial Results

Boeing Reports First Quarter Results

ARLINGTON,Va., April 22, 2026 —

First Quarter 2026

· Revenue increased to $22.2billion primarily reflecting 143 commercial
deliveries
· GAAP loss per share of ($0.11) and core loss per share (non-GAAP)* of
($0.20)
· Operating cash flow of ($0.2)billion and free cash flow (non-GAAP)* of
($1.5) billion
· Total company backlog grew to a record $695billion, including over 6,100
commercial airplanes

+——————————————–++——-++——–++———+
|Table 1. Summary Financial Results ||First Quarter || |
+——————————————–++——-++——–++———+
|(Dollars in Millions, except per share data)||2026 ||2025 ||Change |
+——————————————–++——-++——–++———+
| || || || |
+——————————————–++——-++——–++———+
|Revenues ||$22,217||$19,496 ||14% |
+——————————————–++——-++——–++———+
| || || || |
+——————————————–++——-++——–++———+
|GAAP || || || |
+——————————————–++——-++——–++———+
|Earnings from operations ||$448 ||$461 ||(3)% |
+——————————————–++——-++——–++———+
|Operating margins ||2.0% ||2.4% ||(0.4) Pts|
+——————————————–++——-++——–++———+
|Net loss ||($7) ||($31) ||NM |
+——————————————–++——-++——–++———+
|Diluted loss per share ||($0.11)||($0.16) ||NM |
+——————————————–++——-++——–++———+
|Operating cash flow ||($179) ||($1,616)||NM |
+——————————————–++——-++——–++———+
| || || || |
+——————————————–++——-++——–++———+
|Non-GAAP* || || || |
+——————————————–++——-++——–++———+
|Core operating earnings ||$293 ||$199 ||47% |
+——————————————–++——-++——–++———+
|Core operating margins ||1.3% ||1.0% ||0.3 Pts |
+——————————————–++——-++——–++———+
|Core loss per share ||($0.20)||($0.49) ||NM |
+——————————————–++——-++——–++———+

*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on
page 5, “Non-GAAP Measures Disclosures.”

The Boeing Company [NYSE: BA] recorded first quarter revenue of $22.2billion,
GAAP loss per share of ($0.11) and core loss per share (non-GAAP)* of ($0.20).
The company reported operating cash flow of ($0.2)billion and free cash flow
(non-GAAP)* of ($1.5) billion. Results primarily reflect higher commercial
delivery volume, improved operational performance, and favorable order timing.
Total company backlog grew to a record $695billion with all three segments
remaining at record levels.

“We’re building on our momentum with a strong start to the year and growing
record-breaking backlog across our business, while supporting our customers with
inspiring missions like Artemis II,” said Kelly Ortberg, Boeing president and
chief executive officer. “With a continued focus on safety and quality, we’re
delivering high-quality commercial and defense products and services, while
increasing production to uphold our customer commitments and get back to the
iconic global aerospace company that leads our industry.”

+———————————————++——–++——–+
|Table 2. Cash Flow ||First Quarter |
+———————————————++——–++——–+
|(Millions) ||2026 ||2025 |
+———————————————++——–++——–+
|Operating cash flow ||($179) ||($1,616)|
+———————————————++——–++——–+
|Less additions to property, plant & equipment||($1,275)||($674) |
+———————————————++——–++——–+
|Free cash flow* ||($1,454)||($2,290)|
+———————————————++——–++——–+

*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on
page 5, “Non-GAAP Measures Disclosures.”

Operating cash flow was ($0.2) billion in the quarter reflecting higher
commercial deliveries. Additions to property, plant and equipment primarily
reflects higher investments in Charleston and Saint Louis sites.

+——————————————————++——-++——-+
|Table 3. Cash, Marketable Securities and Debt Balances||Quarter End |
+——————————————————++——-++——-+
|(Billions) ||1Q 2026||4Q 2025|
+——————————————————++——-++——-+
|Cash and investments in marketable securities1 ||$20.9 ||$29.4 |
+——————————————————++——-++——-+
|Consolidated debt ||$47.2 ||$54.1 |
+——————————————————++——-++——-+

1 Marketable securities consist primarily of time deposits due within one year
classified as “short-term investments.”

Cash and investments in marketable securities totaled $20.9 billion, compared to
$29.4 billion at the beginning of the quarter, reflecting debt repayments and
free cash flow usage in the quarter. The company maintains access to credit
facilities of $10.0 billion, which remain undrawn.

Segment Results

Commercial Airplanes

+—————————–++——++——++——+
|Table 4. Commercial Airplanes||First Quarter || |
+—————————–++——++——++——+
|(Dollars in Millions) ||2026 ||2025 ||Change|
+—————————–++——++——++——+
| || || || |
+—————————–++——++——++——+
|Deliveries ||143 ||130 ||10% |
+—————————–++——++——++——+
| || || || |
+—————————–++——++——++——+
|Revenues ||$9,203||$8,147||13% |
+—————————–++——++——++——+
|Loss from operations ||($563)||($537)||NM |
+—————————–++——++——++——+
|Operating margins ||(6.1)%||(6.6)%||NM |
+—————————–++——++——++——+

Commercial Airplanes first quarter revenue of $9.2billion and operating margin
of (6.1) percent primarily reflect higher deliveries.

The 737 program continues to produce at a 42 per month rate. In the quarter, 737
-10 began the Type Inspection Authorization 2 and made progress on this final
phase of certification flight testing. We expect certification of the 737-7 and
737-10 in 2026 and the company anticipates first delivery in 2027. The 787
program continued stabilizing production at eight per month. We also received
FAA certification on the 787-9 and 787-10 for an increased maximum takeoff
weight, an important capability that drives value for our customers. In the
quarter, the 777X program continued to make progress on 777-9 certification
including FAA approval to begin the Type Inspection Authorization 4a phase of
certification flight testing. The company anticipates first delivery in 2027.

Commercial Airplanes booked 140 net orders in the quarter, including 25 737-10
and 25 737-8 airplanes for Aviation Capital Group, 30 787-10 airplanes for Delta
Air Lines and 20 737-8 airplanes for Air India. Commercial Airplanes delivered
143 airplanes and backlog included over 6,100 airplanes valued at a record $576
billion.

Defense, Space& Security

+———————————-++——++——++——-+
|Table 5. Defense, Space & Security||First Quarter || |
+———————————-++——++——++——-+
|(Dollars in Millions) ||2026 ||2025 ||Change |
+———————————-++——++——++——-+
| || || || |
+———————————-++——++——++——-+
|Revenues ||$7,599||$6,298||21% |
+———————————-++——++——++——-+
|Earnings from operations ||$233 ||$155 ||50% |
+———————————-++——++——++——-+
|Operating margins ||3.1% ||2.5% ||0.6 Pts|
+———————————-++——++——++——-+

Defense, Space & Security first quarter revenue of $7.6 billion and operating
margin of 3.1 percent reflect higher volume and stabilizing operational
performance.

During the quarter, Defense, Space & Security signed a seven-year framework
agreement to expand PAC-3 Seeker production and announced a strategic
partnership with Rheinmetall to offer the MQ-28 Ghost Bat to Germany. In April,
Artemis II successfully completed its mission to the moon propelled by the
Boeing-built Space Launch System core stage rocket. Backlog at Defense, Space &
Security grew to a record $86 billion, with 27 percent representing orders from
customers outside the U.S.

Global Services

+————————++——++——++———+
|Table 6. Global Services||First Quarter || |
+————————++——++——++———+
|(Dollars in Millions) ||2026 ||2025 ||Change |
+————————++——++——++———+
| || || || |
+————————++——++——++———+
|Revenues ||$5,370||$5,063||6% |
+————————++——++——++———+
|Earnings from operations||$971 ||$943 ||3% |
+————————++——++——++———+
|Operating margins ||18.1% ||18.6% ||(0.5) Pts|
+————————++——++——++———+

Global Services first quarter revenue was $5.4 billion on higher government
volume. Operating margin of 18.1 percent reflects the impact of the Digital
Aviation Solutions divestiture.

During the quarter, Global Services secured the largest-ever Landing Gear
Exchange Program agreement with Singapore Airlines Group and received initial
FAA and EASA qualification for 777-9 training devices. Global Services ended the
quarter with record backlog of $33 billion.

Additional Financial Information

+—————————————–++——++——+
|Table 7. Additional Financial Information||First Quarter |
+—————————————–++——++——+
|(Dollars in Millions) ||2026 ||2025 |
+—————————————–++——++——+
|Revenues || || |
+—————————————–++——++——+
|Unallocated items, eliminations and other||$45 ||($12) |
+—————————————–++——++——+
|Earnings/(loss) from operations || || |
+—————————————–++——++——+
|Unallocated items, eliminations and other||($348)||($362)|
+—————————————–++——++——+
|FAS/CAS service cost adjustment ||$155 ||$262 |
+—————————————–++——++——+
|Other income, net ||$194 ||$323 |
+—————————————–++——++——+
|Interest and debt expense ||($616)||($708)|
+—————————————–++——++——+
|Income Tax Expense ||($33) ||($107)|
+—————————————–++——++——+

Unallocated items,eliminations and other primarily reflects timing of
allocations.

Non-GAAP Measures Disclosures

We supplement the reporting of our financial information determined under
Generally Accepted Accounting Principles in the United States of America (GAAP)
with certain non-GAAP financial information. The non-GAAP financial information
presented excludes certain significant items that may not be indicative of, or
are unrelated to, results from our ongoing business operations. We believe that
these non-GAAP measures provide investors with additional insight into the
company’s ongoing business performance. These non-GAAP measures should not be
considered in isolation or as a substitute for the related GAAP measures, and
other companies may define such measures differently. We encourage investors to
review our financial statements and publicly-filed reports in their entirety and
not to rely on any single financial measure. The following definitions are
provided:

Core Operating Earnings/(Loss), Core Operating Margins and Core Earnings/(Loss)
Per Share

Core operating earnings/(loss) is defined as GAAPEarnings/(loss) from operations
excluding the FAS/CAS service cost adjustment. The FAS/CAS service cost
adjustment represents the difference between the Financial Accounting Standards
(FAS) pension and postretirement service costs calculated under GAAP and costs
allocated to the business segments. Core operating margins is defined as Core
operating earnings/(loss) expressed as a percentage of revenue. Core
earnings/(loss) per share is defined as GAAP Diluted earnings/(loss) per share
excluding the net earnings/(loss) per share impact of the FAS/CAS service cost
adjustment and Non-operating pension and postretirement expenses. Non-operating
pension and postretirement expenses represent the components of net periodic
benefit costs other than service cost. Pension costs allocated to BDS and BGS
businesses supporting government customers are computed in accordance with U.S.
Government Cost Accounting Standards (CAS), which employ different actuarial
assumptions and accounting conventions than GAAP. CAS costs are allocable to
government contracts. Other postretirement benefit costs are allocated to all
business segments based on CAS, which is generally based on benefits paid.
Management uses core operating earnings/(loss), core operating margins and core
earnings/(loss) per share for purposes of evaluating and forecasting underlying
business performance. Management believes these core measures provide investors
additional insights into operational performance as they exclude non-service
pension and post-retirement costs, which primarily represent costs driven by
market factors and costs not allocable to government contracts. A reconciliation
of these non-GAAP measures to the most directly comparable GAAP measure is
provided on page 12.

Free Cash Flow

Free cash flow is GAAPoperating cash flow reduced by capital expenditures for
property, plant and equipment. Management believes free cash flow provides
investors with an important perspective on the cash available for shareholders,
debt repayment, and acquisitions after making the capital investments required
to support ongoing business operations and long term value creation. Free cash
flow does not represent the residual cash flow available for discretionary
expenditures as it excludes certain mandatory expenditures such as repayment of
maturing debt. Management uses free cash flow as a measure to assess both
business performance and overall liquidity. See Table 2 on page 2 for a
reconciliation of free cash flow to the most directly comparable GAAP measure,
operating cash flow.

Caution Concerning Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995. Words such as “may,”
“will,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,”
“estimates,” “targets,” “anticipates,” and other similar words or expressions,
or the negative thereof, generally can be used to help identify these forward
-looking statements. Examples of forward-looking statements include statements
relating to our future financial condition and operating results, industry
projections and outlooks, plans, objectives and goals, as well as any other
statement that does not directly relate to any historical or current fact.
Forward-looking statements are based on expectations and assumptions that we
believe to be reasonable when made, but that may not prove to be accurate.

These statements are not guarantees and are subject to risks, uncertainties, and
changes in circumstances that are difficult to predict. Many factors could cause
actual results to differ materially and adversely from these forward-looking
statements. Among these factors are risks related to: (1) general conditions in
the economy and our industry, including those due to regulatory changes and
geopolitical developments; (2) our reliance on our commercial airline customers;
(3) the overall health of our aircraft production system, production quality
issues, commercial airplane production rates, our ability to successfully
develop and certify new aircraft or new derivative aircraft, and the ability of
our aircraft to meet stringent performance and reliability standards; (4)
changing budget and appropriation levels and acquisition priorities of the U.S.
government, as well as significant delays in U.S. government appropriations; (5)
our dependence on our subcontractors and suppliers, as well as the availability
of highly skilled labor and raw materials; (6) work stoppages or other labor
disruptions; (7) competition within our markets; (8) our non-U.S. operations and
sales to non-U.S. customers, including tariffs, trade restrictions and
government actions; (9) changes in accounting estimates; (10) realizing the
anticipated benefits of mergers, acquisitions, joint ventures/strategic
alliances or divestitures, including anticipated synergies and quality
improvements related to our acquisition of Spirit AeroSystems Holdings, Inc.;
(11) our dependence on U.S. government contracts; (12) our reliance on fixed
-price contracts; (13) our reliance on cost-type contracts; (14) contracts that
include in-orbit incentive payments; (15) management of a complex, global IT
infrastructure; (16) compromised or unauthorized access to our, our customers’
and/or our suppliers’ information and systems; (17) potential business
disruptions, including threats to physical security or our information
technology systems, extreme weather (including effects of climate change) or
other acts of nature, and pandemics or other public health crises; (18)
potential adverse developments in new or pending litigation and/or government
inquiries or investigations; (19) potential environmental liabilities; (20)
effects of climate change and legal, regulatory or market responses to such
change; (21) credit rating agency actions and our ability to effectively manage
our liquidity; (22) substantial pension and other postretirement benefit
obligations; (23) the adequacy of our insurance coverage; (24) the dilutive
effect of future issuances of our common stock; and (25) the preferential
treatment of our 6.00% mandatory convertible preferred stock.

Additional information concerning these and other factors can be found in our
filings with the Securities and Exchange Commission, including our most recent
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports
on Form 8-K. Any forward-looking statement speaks only as of the date on which
it is made, and we assume no obligation to update or revise any forward-looking
statement, whether as a result of new information, future events, or otherwise,
except as required by law.

Contact:

Investor Eric Hill or Mike Harris [email protected]
Relations:
Communications: Wilson Chow [email protected]

The Boeing Company and Subsidiaries

Consolidated Statements of Operations

(Unaudited)

Three months ended
March 31
(Dollars in millions, except per share 2026 2025
data)
Sales of products $18,998 $16,147
Sales of services 3,219 3,349
Total revenues 22,217 19,496

Cost of products (17,031) (14,379)
Cost of services (2,640) (2,700)
Total costs and expenses (19,671) (17,079)
2,546 2,417
Loss/income from operating investments, (10) 3
net
General and administrative expense (1,197) (1,112)
Research and development expense, net (903) (844)
Gain/(loss) on dispositions, net 12 (3)
Earnings from operations 448 461
Other income, net 194 323
Interest and debt expense (616) (708)
Earnings before income taxes 26 76
Income tax expense (33) (107)
Net loss (7) (31)
Less: net (loss)/earnings attributable to (3) 6
noncontrolling interest
Net loss attributable to Boeing (4) (37)
shareholders
Less: Mandatory convertible preferred 86 86
stock dividends accumulated during the
period
Net loss attributable to Boeing common ($90) ($123)
shareholders
Basic loss per share ($0.11) ($0.16)
Diluted loss per share ($0.11) ($0.16)

The Boeing Company and Subsidiaries

Consolidated Statements of Financial
Position

(Unaudited)

(Dollars in millions, except per share March 31 December 31
data) 2026 2025
Assets
Cash and cash equivalents $9,441 $10,921
Short-term and other investments 11,464 18,479
Accounts receivable, net 3,485 2,921
Unbilled receivables, net 9,793 9,158
Inventories 87,225 84,679
Other current assets, net 2,733 2,301
Total current assets 124,141 128,459
Financing receivables and operating 389 241
lease equipment, net
Property, plant and equipment, net of 15,763 15,361
accumulated depreciation of $23,961
and
$23,613
Goodwill 17,633 17,275
Acquired intangible assets, net 1,517 1,567
Deferred income taxes 136 107
Investments 1,048 1,048
Other assets, net of accumulated 4,160 4,177
amortization of $1,076 and $1,014
Total assets $164,787 $168,235
Liabilities and equity
Accounts payable $13,713 $13,109
Accrued liabilities 26,388 27,141
Advances and progress billings 62,591 59,404
Short-term debt and current portion of 2,855 8,461
long-term debt
Total current liabilities 105,547 108,115
Deferred income taxes 237 216
Accrued retiree health care 2,059 2,091
Accrued pension plan liability, net 4,198 4,287
Other long-term liabilities 2,405 2,432
Long-term debt 44,354 45,637
Total liabilities 158,800 162,778
Shareholders’ equity:
Mandatory convertible preferred stock, 6 6
6.00% Series A, par value $1.00 –
20,000,000 shares authorized;
5,750,000 shares issued; aggregate
liquidation preference $5,750
Common stock, par value $5.00 – 5,061 5,061
1,200,000,000 shares authorized;
1,012,261,159 shares issued
Additional paid-in capital 21,671 21,441
Treasury stock, at cost – 224,344,344 (27,647) (28,029)
and 227,562,887 shares
Retained earnings 17,162 17,252
Accumulated other comprehensive loss (10,266) (10,277)
Total shareholders’ equity 5,987 5,454
Noncontrolling interests 3
Total equity 5,987 5,457
Total liabilities and equity $164,787 $168,235

The Boeing Company and Subsidiaries

Consolidated Statements of Cash Flows
(Unaudited)

Three months ended
March 31
(Dollars in millions) 2026 2025
Cash flows-operating activities:
Net loss ($7) ($31)
Adjustments to reconcile net loss to
net cash used by operating
activities:
Non-cash items –
Share-based plans expense 161 135
Treasury shares issued for 401(k) 466 418
contributions
Depreciation and amortization 573 466
Investment/asset impairment charges, 9 7
net
(Gain)/loss on dispositions, net (12) 3
Other charges and credits, net 45 99
Changes in assets and liabilities –
Accounts receivable (509) (570)
Unbilled receivables (635) (671)
Advances and progress billings 3,181 781
Inventories (2,634) (1,521)
Other current assets (418) (29)
Accounts payable 1,073 (95)
Accrued liabilities (1,260) (386)
Income taxes receivable, payable and (16) 26
deferred
Other long-term liabilities (49) (151)
Pension and other postretirement (22) (150)
plans
Financing receivables and operating (156) 12
lease equipment, net
Other 31 41
Net cash used by operating activities (179) (1,616)
Cash flows – investing activities:
Payments to acquire property, plant (1,275) (674)
and equipment
Proceeds from disposals of property, 2 3
plant and equipment
Contributions to investments (9,265) (8,797)
Proceeds from investments 16,256 7,750
Supplier notes receivable (3)
Other (4) 1
Net cash provided/(used) by investing 5,711 (1,717)
activities
Cash flows – financing activities:
New borrowings 24 29
Debt repayments (6,950) (295)
Employee taxes on certain share-based (31) (14)
payment arrangements
Dividends paid on mandatory (86) (72)
convertible preferred stock
Other 15 14
Net cash used by financing activities (7,028) (338)
Effect of exchange rate changes on 1 12
cash and cash equivalents
Net decrease in cash & cash (1,495) (3,659)
equivalents, including restricted
Cash & cash equivalents, including 11,663 13,822
restricted, at beginning of year
Cash & cash equivalents, including 10,168 10,163
restricted, at end of period
Less restricted cash & cash 727 21
equivalents, included in Investments
Cash & cash equivalents at end of $9,441 $10,142
period

The Boeing Company and Subsidiaries

Summary of Business Segment Data

(Unaudited)

Three months ended
March 31
(Dollars in millions) 2026 2025
Revenues:
Commercial Airplanes $9,203 $8,147
Defense, Space & Security 7,599 6,298
Global Services 5,370 5,063
Unallocated items, eliminations and other 45 (12)
Total revenues $22,217 $19,496
Earnings from operations:
Commercial Airplanes ($563) ($537)
Defense, Space & Security 233 155
Global Services 971 943
Segment operating earnings 641 561
Unallocated items, eliminations and other (348) (362)
FAS/CAS service cost adjustment 155 262
Earnings from operations 448 461
Other income, net 194 323
Interest and debt expense (616) (708)
Earnings before income taxes 26 76
Income tax expense (33) (107)
Net loss (7) (31)
Less: Net (loss)/earnings attributable to (3) 6
noncontrolling interest
Net loss attributable to Boeing (4) (37)
shareholders
Less: Mandatory convertible preferred 86 86
stock dividends accumulated during the
period
Net loss attributable to Boeing common ($90) ($123)
shareholders

Research and development expense, net:
Commercial Airplanes $603 $534
Defense, Space & Security 174 199
Global Services 22 29
Other 104 82
Total research and development expense, $903 $844
net

Unallocated items, eliminations and
other:
Share-based plans ($55) ($30)
Deferred compensation 17 5
Amortization of previously capitalized (22) (21)
interest
Research and development expense, net (104) (82)
Eliminations and other unallocated items (184) (234)
Sub-total (included in Core operating (348) (362)
earnings)
Pension FAS/CAS service cost adjustment 93 193
Postretirement FAS/CAS service cost 62 69
adjustment
FAS/CAS service cost adjustment $155 $262
Total ($193) ($100)

The Boeing Company and Subsidiaries

Operating and Financial Data

(Unaudited)

Deliveries Three months ended
March 31
Commercial Airplanes 2026 2025
737 114 105
767 6 5
777 8 7
787 15 13
Total 143 130

Defense, Space & Security
AH-64 Apache (New) 2 4
AH-64 Apache (Remanufactured) 15 11
CH-47 Chinook (New) 1 1
CH-47 Chinook (Renewed) 1 2
F-15 Models 1 1
F/A-18 Models 2 5
KC-46 Tanker 4 –
MH-139 2 1
P-8 Models 1 1
Commercial Satellites 1 –
Total1 30 26

1 Deliveries of new-build production units,
including remanufactures and modifications

Total backlog (Dollars in millions) March 31 December 31
2026 2025
Commercial Airplanes $575,583 $567,290
Defense, Space & Security 85,821 84,786
Global Services 32,957 29,720
Unallocated items, eliminations and other 348 411
Total backlog $694,709 $682,207

Contractual backlog $652,671 $639,721
Unobligated backlog 42,038 42,486
Total backlog $694,709 $682,207

The Boeing Company and Subsidiaries
Reconciliation of Non-GAAP Measures
(Unaudited)

The tables provided below reconcile the non-GAAP financial measures core
operating earnings/(loss), core operating margins, and core earnings/(loss) per
share with the most directly comparable GAAP financial measures of
earnings/(loss) from operations, operating margins, and diluted earnings/(loss)
per share. See page 5 of this release for additional information on the use of
these non-GAAP financial measures.

(Dollars in millions, First Quarter 2026 First Quarter 2025
except per share data)
$ millions Per Share $ millions Per Share
Revenues $22,217 $19,496
Earnings from operations 448 461
(GAAP)
Operating margins (GAAP) 2.0% 2.4%

FAS/CAS service cost
adjustment:
Pension FAS/CAS service (93) (193)
cost adjustment
Postretirement FAS/CAS (62) (69)
service cost adjustment
FAS/CAS service cost (155) (262)
adjustment
Core operating earnings $293 $199
(non-GAAP)
Core operating margins (non 1.3% 1.0%
-GAAP)

Diluted loss per share ($0.11) ($0.16)
(GAAP)
Pension FAS/CAS service ($93) ($0.12) ($193) ($0.26)
cost adjustment
Postretirement FAS/CAS (62) (0.08) (69) (0.09)
service cost adjustment
Non-operating pension 74 0.10 (43) (0.06)
income
Non-operating (9) (0.01) (5) (0.01)
postretirement income
Provision for deferred 19 0.02 65 0.09
income taxes on adjustments
1
Subtotal of adjustments ($71) ($0.09) ($245) ($0.33)
Core loss per share (non ($0.20) ($0.49)
-GAAP)

Diluted weighted average 788.0 753.4
common shares outstanding
(in
millions)

1 The income tax impact is calculated
using the U.S. corporate statutory tax
rate.

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