The United States Securities and Exchange Commission (SEC) has issued a letter to Boeing Co's Senior Vice President and Controller, Michael Cleary, regarding its Form 10-K filed on January 31, 2024. The SEC's review has led to several comments requesting Boeing to provide additional information within ten business days. The SEC has asked Boeing to quantify the impact of supply chain disruptions and inflation on its cost structure, revenue, profits, and liquidity in future filings. Additionally, the SEC seeks a more detailed breakdown of Boeing's 737 variants in its backlog to enhance investor understanding. Concerns were also raised about Boeing's substantial Goodwill balance and the operating losses in its Commercial Airplanes and Defense, Space & Security segments. The SEC has...Show More

The United States Securities and Exchange Commission (SEC) has issued a letter to Boeing Co's Senior Vice President and Controller, Michael Cleary, regarding its Form 10-K filed on January 31, 2024. The SEC's review has led to several comments requesting Boeing to provide additional information within ten business days. The SEC has asked Boeing to quantify the impact of supply chain disruptions and inflation on its cost structure, revenue, profits, and liquidity in future filings. Additionally, the SEC seeks a more detailed breakdown of Boeing's 737 variants in its backlog to enhance investor understanding. Concerns were also raised about Boeing's substantial Goodwill balance and the operating losses in its Commercial Airplanes and Defense, Space & Security segments. The SEC has requested Boeing to disclose whether a qualitative or quantitative impairment test was performed, the methods and assumptions used for testing, and the fair value of reporting units in relation to their carrying value. Boeing is also asked to identify any reporting units with zero or negative carrying amounts of net assets and the amount of goodwill allocated to each. The SEC reminds Boeing of its responsibility for the accuracy and adequacy of its disclosures.