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Postretirement Plans (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Retirement Benefits [Abstract]    
Components of Net Periodic Benefit Cost
The components of net periodic benefit (income)/cost were as follows:
 
   
Six months ended
June 30
    
Three months ended
June 30
  
Pension Plans
  
2024
     2023    
2024
     2023  
Service cost
  
$
3
 
   $ 2    
$
1
 
   $ 1  
Interest cost
  
 
1,318
 
     1,410    
 
659
 
   $ 705  
Expected return on plan assets
  
 
(1,656
) 
     (1,720 )   
 
(827
) 
     (859 ) 
Amortization of prior service credits
  
 
(41
) 
     (41 )   
 
(21
) 
     (21 ) 
Recognized net actuarial loss
  
 
134
 
     83    
 
67
 
     41  
 
 
 
    
 
 
    
 
 
    
 
 
  
Net periodic benefit income
  
($
242
) 
   ($ 266 )   
($
121
) 
   ($ 133 ) 
 
 
 
    
 
 
    
 
 
    
 
 
  
Net periodic benefit cost included in Loss from operations
  
$
3
 
   $ 2    
$
1
 
   $ 1  
Net periodic benefit income included in Other income, net
  
 
(245
) 
     (268 )   
 
(122
) 
   ($ 134 ) 
 
 
 
    
 
 
    
 
 
    
 
 
  
Net periodic benefit income included in Loss before income taxes
  
($
242
) 
   ($ 266 )   
($
121
) 
   ($ 133 ) 
 
 
 
    
 
 
    
 
 
    
 
 
  
 
    
Six months ended
June 30
     
Three months ended
June 30
  
Other Postretirement Plans
   
2024
      2023     
2024
      2023  
Service cost
   
 
25
 
    $ 24     
$
13
 
    $ 12  
Interest cost
   
 
62
 
      74     
 
31
 
      37  
Expected return on plan assets
   
 
(6
) 
      (4 )    
 
(4
) 
      (2 ) 
Amortization of prior service credits
   
 
(5
) 
      (11 )    
 
(2
) 
      (5 ) 
Recognized net actuarial gain
   
 
(88
) 
      (88 )    
 
(44
) 
      (44 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
Net periodic benefit income
   
($
12
) 
    ($ 5 )    
($
6
) 
    ($ 2 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
Net periodic benefit cost included in Loss from operations
   
 
23
 
    $ 31     
$
12
 
    $ 16  
Net periodic benefit income included in Other income, net
   
 
(37
) 
      (29 )    
 
(19
) 
      (14 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
Net periodic benefit (income)/cost included in Loss before income taxes
   
($
14
) 
    $ 2     
($
7
) 
    $ 2  
  
 
 
     
 
 
     
 
 
     
 
 
  
The components of net periodic benefit (income)/cost were as follows:
 
     Pension     Other Postretirement
Benefits		  
Years ended December 31,
   
2023
     2022     2021    
2023
     2022     2021  
Service cost
   
$
2
 
   $ 3   $ 3  
$
49
 
   $ 72   $ 87
Interest cost
   
 
2,820
 
     2,080     1,988  
 
148
 
     98     97
Expected return on plan assets
   
 
(3,441
) 
     (3,789 )      (3,848 )   
 
(9
) 
     (10 )      (7 ) 
Amortization of prior service credits
   
 
(81
) 
     (81 )      (80 )   
 
(22
) 
     (35 )      (35 ) 
Recognized net actuarial loss/(gain)
   
 
173
 
     913     1,219  
 
(175
) 
     (111 )      (56 ) 
Settlement/curtailment (gain)/loss
        (4 )      193      
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net periodic benefit (income)/cost
   
($
527
) 
   ($ 878 )    ($ 525 )   
($
9
) 
   $ 14   $ 86
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net periodic benefit cost included in Loss from operations
   
$
2
 
   $ 3   $ 3  
$
62
 
   $ 79   $ 90
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net periodic benefit income included in Other income, net
   
 
(529
) 
     (881 )      (528 )   
 
(58
) 
     (58 )      (1 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net periodic benefit (income)/cost included in Loss before income taxes
   
($
527
) 
   ($ 878 )    ($ 525 )   
$
4
 
   $ 21   $ 89
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Schedule of Changes in the Benefit Obligation, Plan Assets and Funded Status of Pensions and OPB  
The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2023 and 2022. Benefit obligation balances presented below reflect the PBO for our pension plans and accumulated postretirement benefit obligations (APBO) for our OPB plans.
 
     Pension     Other Postretirement
Benefits		  
    
2023
     2022    
2023
      2022  
Change in benefit obligation
          
Beginning balance
   
$
55,117
 
   $ 75,635  
$
2,978
 
    $ 4,092
Service cost
   
 
2
 
     3     49        72
Interest cost
   
 
2,820
 
     2,080  
 
148
 
      98
Amendments
        1     
Actuarial loss/(gain)
   
 
1,217
 
     (17,605 )   
 
(152
) 
      (914 ) 
Gross benefits paid
   
 
(4,837
) 
     (4,971 )   
 
(375
) 
      (406 ) 
Subsidies
       
 
2
 
      39
Exchange rate adjustment
   
 
6
 
     (26 )   
 
1
 
      (3 ) 
  
 
 
    
 
 
    
 
 
     
 
 
  
Ending balance
   
$
54,325
 
   $ 55,117  
$
2,651
 
    $ 2,978
  
 
 
    
 
 
    
 
 
     
 
 
  
Change in plan assets
          
Beginning balance at fair value
   
$
49,825
 
   $ 67,813  
$
140
 
    $ 172
Actual return on plan assets
   
 
3,756
 
     (13,141 )   
 
23
 
      (27 ) 
Company contribution
        2     
Plan participants’ contributions
       
 
4
 
      6
Benefits paid
   
 
(4,698
) 
     (4,824 )   
 
(4
) 
      (11 ) 
Exchange rate adjustment
   
 
8
 
     (25 )      
  
 
 
    
 
 
    
 
 
     
 
 
  
Ending balance at fair value
   
$
48,891
 
   $ 49,825  
$
163
 
    $ 140
  
 
 
    
 
 
    
 
 
     
 
 
  
Amounts recognized in statement of financial position at December 31 consist of:
          
Other assets
   
$
1,219
 
   $ 987  
$
81
 
    $ 21
Accrued liabilities
   
 
(137
) 
     (138 )   
 
(336
) 
      (356 ) 
Accrued retiree health care
       
 
(2,233
) 
      (2,503 ) 
Accrued pension plan liability, net
   
 
(6,516
) 
     (6,141 )      
  
 
 
    
 
 
    
 
 
     
 
 
  
Net amount recognized
   
($
5,434
) 
   ($ 5,292 )   
($
2,488
) 
    ($ 2,838 ) 
  
 
 
    
 
 
    
 
 
     
 
 
  
Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss  
Amounts recognized in Accumulated other comprehensive loss (AOCI) at December 31 were as follows:
 
     Pension      Other Postretirement
Benefits		  
    
2023
      2022     
2023
      2022  
Net actuarial loss/(gain)
   
$
18,175
 
    $ 17,448   
($
1,852
) 
    ($ 1,862 ) 
Prior service credits
   
 
(1,143
) 
      (1,224 )    
 
(19
) 
      (41 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
Total recognized in AOCI
   
$
17,032
 
    $ 16,224   
($
1,871
) 
    ($ 1,903 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
Schedule of Key Information for All Plans with ABO in Excess of Plan Assets   Key information for our plans with ABO and PBO in excess of plan assets as of December 31 was as follows:
 
    
2023
      2022  
Accumulated benefit obligation
   
$
47,665
 
    $ 48,134
Fair value of plan assets
   
 
41,666
 
      42,491
  
 
 
     
 
 
  
 
    
2023
      2022  
Projected benefit obligation
   
$
48,320
 
    $ 48,770
Fair value of plan assets
   
 
41,666
 
      42,491
  
 
 
     
 
 
  
Schedule of Assumptions Used to Calculate the Benefit Obligation and Net Periodic Benefit Costs  
The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.
 
December 31,
   
2023
     2022     2021  
Discount rate:
       
Pension
   
 
5.10
% 
     5.40 %      2.80 % 
Other postretirement benefits
   
 
5.00
% 
     5.30 %      2.50 % 
Expected return on plan assets
   
 
6.00
% 
     6.00 %      6.30 % 
Rate of compensation increase
   
 
4.30
% 
     4.30 %      4.30 % 
Interest crediting rates for cash balance plans
   
 
5.00
% 
     5.00 %      5.00 % 
  
 
 
    
 
 
    
 
 
  
Schedule of Assumed Health Care Cost Trend Rates  
Assumed health care cost trend rates were as follows:
 
December 31,
   
2023
     2022     2021  
Health care cost trend rate assumed next year
   
 
5.50
% 
     5.50 %      4.50 % 
Ultimate trend rate
   
 
4.50
% 
     4.50 %      4.50 % 
Year that trend reaches ultimate rate
   
 
2028
 
     2028       2021  
  
 
 
    
 
 
    
 
 
  
Schedule of Actual Allocations for Pension Assets and Target Allocations by Asset Class   The actual and target allocations by asset class for the pension assets at December 31 were as follows:
 
     Actual Allocations     Target Allocations  
Asset Class
   
2023
     2022    
2023
     2022  
Fixed income
   
 
60
% 
     63 %   
 
59
% 
     63 % 
Global equity
   
 
19
 
     14  
 
20
 
     20
Private equity
   
 
8
 
     8  
 
7
 
     4
Real estate and real assets
   
 
7
 
     8  
 
7
 
     7
Hedge funds
   
 
6
 
     7  
 
7
 
     6
  
 
 
    
 
 
    
 
 
    
 
 
  
Total
   
 
100
% 
     100 %   
 
100
% 
     100 % 
  
 
 
    
 
 
    
 
 
    
 
 
  
Schedule of Allocation of Plan Assets   The following table presents our plan assets using the fair value hierarchy as of December 31, 2023 and 2022. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs.
 
     December 31, 2023      December 31, 2022  
    
Total
     
Level 1
     
Level 2
     
Level 3
      Total     Level 1      Level 2     Level 3  
Fixed income securities:
                      
Corporate
   
$
17,809
 
      
$
17,750
 
   
$
59
 
    $ 15,095      $ 15,025   $ 70
U.S. government and agencies
   
 
6,822
 
      
 
6,822
 
         7,827        7,827  
Mortgage backed and asset backed
   
 
505
 
      
 
344
 
   
 
161
 
      664        502     162
Municipal
   
 
816
 
      
 
816
 
         843        811     32
Sovereign
   
 
720
 
      
 
720
 
         706        706  
Other
   
 
9
 
   
$
6
 
      
 
3
 
      8   $ 8     
Derivatives:
                      
Assets
   
 
69
 
      
 
69
 
         36        36  
Liabilities
                  (87 )         (87 )   
Cash equivalents and other short-term investments
   
 
326
 
      
 
326
 
         571        571  
 
     December 31, 2023      December 31, 2022  
    
Total
    
Level 1
     
Level 2
     
Level 3
      Total     Level 1      Level 2     Level 3  
Equity securities:
                     
U.S. common and preferred stock
   
 
3,391
 
  
 
3,391
 
            2,931     2,931     
Non-U.S.
common and preferred stock
   
 
2,204
 
  
 
2,204
 
            2,023     2,023     
Boeing company stock
                 1,782     1,782     
Derivatives:
                     
Assets
                     
Liabilities
                 (1 )         (1 )   
Private equity
                     
Real estate and real assets:
                     
Real estate
                     
Real assets
   
 
385
 
  
 
349
 
   
 
33
 
   
 
3
 
      362     310      47     5
Derivatives:
                     
Assets
                 1        1  
Liabilities
                 (8 )         (7 )      (1 ) 
  
 
 
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
  
Total
   
$
33,056
 
  
$
5,950
 
   
$
26,880
 
   
$
226
 
    $ 32,753   $ 7,054    $ 25,431   $ 268
  
 
 
    
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
  
Fixed income common/collective/pooled funds
   
$
1,378
 
            $ 1,511       
Fixed income other
   
 
1,364
 
              832       
Equity common/collective/ pooled funds
   
 
2,702
 
              2,757       
Private equity
   
 
4,102
 
              4,239       
Real estate and real assets
   
 
3,138
 
              3,525       
Hedge funds
   
 
2,751
 
              3,391       
  
 
 
             
 
 
         
Total investments measured at NAV as a practical expedient
   
$
15,435
 
            $ 16,255       
  
 
 
             
 
 
         
Cash
   
$
86
 
            $ 409       
Receivables
   
 
438
 
  
 
 
 
   
 
 
 
   
 
 
 
      541  
 
 
 
   
 
 
 
  
 
 
 
Payables
   
 
(124
) 
  
 
 
 
   
 
 
 
   
 
 
 
      (133 )   
 
 
 
   
 
 
 
  
 
 
 
  
 
 
             
 
 
         
Total
   
$
48,891
 
  
 
 
 
   
 
 
 
   
 
 
 
    $ 49,825  
 
 
 
   
 
 
 
  
 
 
 
  
 
 
             
 
 
         
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets  
The following tables summarizes the changes of Level 3 assets, reconciled by asset class, held during the years ended December 31, 2023 and 2022. Transfers into and out of Level 3 are reported at the
beginning-of-year
values.
 
     January 1
2023
Balance		      Net Realized and
Unrealized
Gains/(Losses)		     Net Purchases,
Issuances and
Settlements		     Net Transfers
Into/(Out of)
Level 3		     December 31
2023
Balance		  
Fixed income securities:
            
Corporate
   
$
70
 
   
$
5
 
  
($
16
) 
    
$
59
 
U.S. government and agencies
        
 
(1
) 
     $1  
Mortgage backed and
asset backed
   
 
162
 
   
 
7
 
  
 
10
 
  
 
(18
) 
  
 
161
 
Municipal
   
 
32
 
     
 
(5
) 
  
 
(27
) 
  
Other
      
 
3
 
         3  
Real assets
   
 
4
 
   
 
(1
) 
      
 
3
 
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
Total
   
$
268
 
   
$
14
 
  
($
12
) 
  
($
44
) 
  
$
226
 
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
     January 1
2022
Balance		      Net Realized and
Unrealized
Gains/(Losses)		     Net Purchases,
Issuances and
Settlements		     Net
Transfers
Into/(Out of)
Level 3		     December 31
2022
Balance		  
Fixed income securities:
            
Corporate
    $ 53    ($ 19 )    $ 3   $ 33   $ 70
Mortgage backed and asset backed
      102      (11 )      16     55     162
Municipal
      29      (14 )      9     8     32
Sovereign
      9          (9 )   
Equity securities:
            
Non-U.S.
common and preferred stock
      5      (45 )      (2 )      42  
Real assets
         (1 )      5       4
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
Total
    $ 198    ($ 90 )    $ 31   $ 129   $ 268
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
Schedule of Estimated Future Benefit Payments   The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only.
 
Year(s)
    2024     2025     2026     2027     2028    
2029-2033
  
Pensions
    $ 4,524   $ 4,425   $ 4,345   $ 4,241   $ 4,143   $ 19,106
Other postretirement benefits:
             
Gross benefits paid
      358     341     319     295     269     1,004
Subsidies
      (12 )      (13 )      (13 )      (13 )      (13 )      (61 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net other postretirement benefits
    $ 346   $ 328   $ 306   $ 282   $ 256   $ 943