Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Boeing Company (The)    BA

BOEING COMPANY (THE)

(BA)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Seven big U.S. companies paid CEOs more than Uncle Sam in 2013: study

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/18/2014 | 12:32am EDT
Various denominations of U.S. currency are seen

WASHINGTON (Reuters) - Seven of the 30 largest U.S. corporations paid more money to their chief executive officers last year than they paid in U.S. federal income taxes, according to a study released on Tuesday that was disputed by at least one of the companies.

Amid talk in Washington about corporate tax reform, the study said the seven companies, which in 2013 reported more than $74 billion in combined U.S. pre-tax profits, came out ahead on their taxes, gaining $1.9 billion more than they owed.

At the same time, the CEOs at each of the seven companies last year was paid an average of $17.3 million, said the study, compiled by two Washington think tanks.

The seven companies cited were Boeing Co (>> The Boeing Company), Ford Motor Co (>> Ford Motor Company), Chevron Corp (>> Chevron Corporation), Citigroup Inc (>> Citigroup Inc), Verizon Communications Inc (>> Verizon Communications Inc.), JPMorgan Chase & Co (>> JPMorgan Chase & Co.) and General Motors Co (>> General Motors Company).

The Institute for Policy Studies and the Center for Effective Government, the study's co-authors, said its findings reflected "deep flaws in our corporate tax system."

In reply, Verizon said it paid $422 million in income taxes in 2013. "We do not provide a breakdown between federal vs. state in that total; however, I am confirming for you that the federal portion of that number is well more than Verizon's CEO's compensation," a spokesman said in an email.

Boeing said its 2013 global tax bill was $1.6 billion, though all but $5 million was deferred due to development and production investments. A spokesman said current tax expense and cash taxes were likely to rise as 787 jet deliveries ramp up.

Like the other companies, Citigroup said it abides by all tax laws. "In 2013, Citi paid more than $3 billion in payroll taxes and more than $95 million in use tax, personal property and real property taxes in the U.S.,” a spokesman said.

Both automakers Ford and General Motors said their current U.S. tax bills are reduced by tax loss carry forwards stemming from severe losses suffered a few years ago.

Energy group Chevron said its 2013 current U.S. federal income tax expense of $15 million "was much lower than normal" due to several factors. Echoing other companies, Chevron stressed it pays taxes worldwide.

JPMorgan Chase declined to comment.

(Additional reporting by David Henry and Alwyn Scott in New York, Marina Lopes in Washington, Ben Klayman in Detroit, and Ernest Scheyder in Williston, N.D.; Editing by Cynthia Osterman)

By Kevin Drawbaugh

Stocks mentioned in the article
ChangeLast1st jan.
BOEING COMPANY (THE) -3.76% 331.06 Delayed Quote.6.67%
CHEVRON CORPORATION 1.63% 116.61 Delayed Quote.5.47%
CITIGROUP INC. 2.97% 71.81 Delayed Quote.33.96%
FORD MOTOR COMPANY -1.20% 9.03 Delayed Quote.21.44%
GENERAL MOTORS COMPANY -0.66% 35.93 Delayed Quote.8.13%
VERIZON COMMUNICATIONS -0.49% 60.75 Delayed Quote.8.59%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BOEING COMPANY (THE)
05:38pBOEING : European Air Regulators Break From FAA on 737 MAX Timeline
DJ
05:00pBOEING : Board Approves Quarterly Dividend
PR
04:42pBOEING : European Air Regulators Break From FAA on 737 MAX Timeline -- Update
DJ
04:31pSeattle Genetics and Coty rise while Boeing, McKesson fall
AQ
04:30pIndustrials Up On 3Q Earnings -- Industrials Roundup
DJ
04:19pMARKET SNAPSHOT: Stocks Close Higher; Dow's Ascent Clipped By Boeing's Slump
DJ
03:36pEXCLUSIVE : Europe regulator to clear Boeing 737 MAX in January at earliest
RE
03:16pNEWS HIGHLIGHTS : Top Company News of the Day
DJ
01:16pPETER THIEL : Top Company News of the Day
DJ
12:24pBOEING : shares extend slide after Wall Street downgrades
AQ
More news
Financials (USD)
Sales 2019 82 481 M
EBIT 2019 3 284 M
Net income 2019 2 577 M
Debt 2019 16 182 M
Yield 2019 2,41%
P/E ratio 2019 73,7x
P/E ratio 2020 13,9x
EV / Sales2019 2,45x
EV / Sales2020 1,61x
Capitalization 186 B
Chart BOEING COMPANY (THE)
Duration : Period :
Boeing Company (The) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BOEING COMPANY (THE)
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 403,00  $
Last Close Price 331,06  $
Spread / Highest target 57,4%
Spread / Average Target 21,7%
Spread / Lowest Target -12,4%
EPS Revisions
Managers
NameTitle
Dennis A. Muilenburg Chairman, President & Chief Executive Officer
Jenette E. Ramos Senior Vice President-Supply Chain & Operations
Gregory D. Smith CFO, EVP-Corporate Development & Strategy
Theodore Colbert Chief Information Officer & SVP-Data Analytics
Gregory L. Hyslop CTO, Senior VP-Engineering, Test & Technology
Sector and Competitors
1st jan.Capitalization (M$)
BOEING COMPANY (THE)6.67%193 572
AIRBUS SE43.40%104 278
DASSAULT AVIATION-0.08%11 196
TEXTRON0.04%10 588
AVICOPTER PLC15.12%3 580
AVIC ELECTROMECHANICAL SYSTEMS CO LTD--.--%3 234