BA - 2. 보잉 2020 연간보고서 10-k PART 1

Boeing Company - Investors - Overview

Boeing Company - Investors - Overview

보잉 투자자 사이트

2020 10-k.pdf

0.92MB

보잉 2020 연간 보고서

PART I

Item 1. Business

We are organized based on the products and services we offer. We operate in four reportable segments:
•Commercial Airplanes (BCA);
•Defense, Space & Security (BDS);
•Global Services (BGS);
•Boeing Capital (BCC).

민간항공기판매, 안보 우주 군수, 서비스, 캐피탈 4 분야로 이루어진다.

Item 1A. Risk Factors

Liquidity risks: The COVID-19 pandemic has also had a significant impact on our liquidity and overall debt levels. During the year ended December 31, 2020, net cash used by operating activities was $18.4 billion. At December 31, 2020, cash and short-term investments totaled $25.6 billion. Our debt balance totaled $63.6 billion at December 31, 2020, up from $27.3 billion at December 31, 2019. We expect negative operating cash flows in future quarters until deliveries begin to return to historical levels

2020년 한 해 동안 영업에 사용된 현금은 18.4bil
현재 보유 현금과 단기채는 25.6bil
부채는 19년말 27.3bil에서 20년말 63.6bil로 증가함

we may be required to refund pre-delivery payments, putting additional constraints on our liquidity

737맥스 관련해서 선불금을 환불해야 할 위험도 있다.

Risks Related to Our Business and Operations We are subject to a number of risks and uncertainties related to the 737 MAX. These risks include uncertainties regarding the timing and conditions of 737 MAX regulatory approvals, in certain non-U.S. jurisdictions, lower than planned production rates and/or delivery rates, increased considerations to customers, increased supplier costs and supply chain health, changes to the assumptions and estimates made in our financial statements regarding the 737 program, and potential outcomes of various 737 MAX-related legal proceedings and government investigations.

737 맥스 관련 위험들..* 지금은 운항재개됨

In addition, we have experienced claims and assertions from customers in connection with the grounding, and we recorded an earnings charge of $8,259 million, net of insurance recoveries of $500 million, in 2019, in connection with an estimate of potential concessions and other considerations to customers for disruptions related to the grounding and associated delivery delay.

For example, a number of our customers may have contractual remedies, including rights to reject individual airplane deliveries if the actual delivery date is significantly later than the contractual delivery date. Delays on the 737 MAX and 777X programs have resulted in, and may continue to result in, customers having the right to terminate orders and or substitute orders for other Boeing aircraft.

고객들은 비행기가 늦을 경우 계약 종료하거나 다른 보잉으로 주문을 대체할 권리가 있음

Our ability to deliver products and services that satisfy customer requirements is heavily dependent on the performance and financial stability of our subcontractors and suppliers, as well as on the availability of raw materials and other components.

하청업체, 원자재 등 에서 문제가 발생할 수 있음

In 2020, 51% of our revenues were earned pursuant to U.S. government contracts, which include FMS through the U.S. government. Business conducted pursuant to such contracts is subject to extensive procurement regulations and other unique risks

2020 매출의 51%는 미국 정부로 부터 얻었는데, 정책 변화로 인한 위험이 있다.

Our BDS and BGS defense businesses generated approximately 69% and 72% of their 2020 revenues from fixed-price contracts

고정 비용 계약을 하는데, 개발을 고정 비용으로 해야할 경우 생각보다 비용이 더 들어가서 손해를 보게 될 위험이 있다.

We enter into contracts that include in-orbit incentive payments that subject us to risks
Contracts in the commercial satellite industry and certain government satellite contracts include in-orbit incentive payments. These in-orbit payments may be paid over time after final satellite acceptance or paid in full prior to final satellite acceptance. In both cases, the in-orbit incentive payment is at risk if the satellite does not perform to specifications for up to 15 years after acceptance. The net present value of in-orbit incentive fees we ultimately expect to realize is recognized as revenue in the construction period. If the satellite fails to meet contractual performance criteria, customers will not be obligated to continue making in-orbit payments and/or we may be required to provide refunds to the customer and incur significant charges

위성계약에는 궤도 내 인센티브 지급이 포함되는데, 받는 돈은 건설시에 매출로 인식되고, 위성이 15년 동안 계약수준을 이행 및 유지하지 못할 경우 이후 돈을 못받거나, 이미 받은 돈을 환불해야할 위험이 있음

Item 2. Properties

미 정부에서 무상으로 임차한 공간을 제외하면 위와 같은 땅을 쓰고 있음
86mil 제곱피트 정도