Board of Directors and Shareholders
The Boeing Company
Chicago, Illinois
We have audited the accompanying consolidated statements
of financial position of The Boeing Company and subsidiaries
(the “ Company”) as of December 31, 2002 and
2001, and the related consolidated statements of operations,
shareholders’ equity, and cash flows for each of the
three years in the period ended December 31, 2002. These
financial statements are the responsibility of the Company’s
management. Our responsibility is to express an opinion on
these financial statements based on our audits.
We conducted our audits in accordance with auditing standards
generally accepted in the United States of America. Those
standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures
in the financial statements. An audit also includes assessing
the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide
a reasonable basis for our opinion.
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In our opinion, the consolidated
financial statements referred to above present fairly, in
all material respects, the financial position of The Boeing
Company and subsidiaries as of December 31, 2002 and 2001,
and the results of their operations and their cash flows
for each of the three years in the period ended December
31, 2002, in conformity with accounting principles generally
accepted in the United States of America.
As discussed in Note 5 and Note 19 to the consolidated financial
statements, the Company changed its method of accounting
for goodwill and other intangible assets effective January
1, 2002 to conform to Statement of Financial Accounting Standards
No. 142, Goodwill and Other
Intangible Assets, and its method of accounting for
derivative financial instruments effective January 1, 2001
to conform to Statement of Financial Accounting Standards
No. 133, Accounting for
Derivative Instruments and Hedging Activities, as
amended.
Deloitte & Touche LLP
Chicago, Illinois
January 30, 2003
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