How does Boeing's effective tax rate in FY2022 compare to FY2021?
The Boeing Company and Subsidiaries
Consolidated Statements of Operations
(Dollars in millions, except per share data)
 
 
 
Years ended December 31,
2022
2021
2020
Sales of products
$55,893 
$51,386 
$47,142 
Sales of services
10,715 
10,900 
11,016 
Total revenues
66,608 
62,286 
58,158 
Cost of products
(53,969)
(49,954)
(54,568)
Cost of services
(9,109)
(9,283)
(9,232)
Boeing Capital interest expense
(28)
(32)
(43)
Total costs and expenses
(63,106)
(59,269)
(63,843)
3,502 
3,017 
(5,685)
(Loss)/income from operating investments, net
(16)
210 
9 
General and administrative expense
(4,187)
(4,157)
(4,817)
Research and development expense, net
(2,852)
(2,249)
(2,476)
Gain on dispositions, net
6 
277 
202 
Loss from operations
(3,547)
(2,902)
(12,767)
Other income, net
1,058 
551 
447 
Interest and debt expense
(2,533)
(2,682)
(2,156)
Loss before income taxes
(5,022)
(5,033)
(14,476)
Income tax (expense)/benefit
(31)
743 
2,535
Effective tax rate in FY2022 was 0.62%, compared to  -14.76% in FY2021.
Effective tax rate=Income tax (expense) benefit/ Loss before income taxes*100=(31)/(5,022)*100=0.62% in 2022 and 743/(5,033)*100=-14.76%.