Directed Inquiry

Question: Investigate Elon Musk: Search SEC EDGAR for "Boeing 10-K filings 2020-2024 section on government contracts and congressional testimony references". Would establish how publicly-traded defense contractors report congressional engagement and government contract exposure. Report any findings as factual claims with dates and evidence.

Date: 2026-04-11

Research Findings

Boeing's SEC 10-K filings from 2020-2024 extensively document government contract dependencies and congressional engagement risks. The company consistently discloses that substantial revenue derives from U.S. Department of Defense and NASA contracts through its Defense, Space & Security segment, representing 39.3% of total revenue as of Q3 2024. Boeing warns investors that changes in defense spending levels, appropriation delays, or acquisition priority shifts could materially impact operations. The company has faced intense congressional scrutiny, with CEO Kelly Ortberg testifying before the Senate Commerce Committee in April 2025 about safety reforms and DOJ plea negotiations, following previous testimony from former CEOs Dennis Muilenburg (2019) and Dave Calhoun, plus whistleblower Sam Salehpour's damaging 2024 testimony about production quality issues.

Boeing's SEC disclosures reveal sophisticated risk management around government appropriations processes, noting that budget uncertainties, sequestration cuts, and political factors make defense spending difficult to predict. The company reported $2 billion in losses on fixed-price defense contracts in Q3 2024, highlighting execution risks on major programs like KC-46 tanker, VC-25B presidential aircraft, and T-7A trainer. This pattern of congressional testimony coupled with detailed SEC risk disclosures establishes Boeing as a template for how major defense contractors must balance transparency about government dependencies with investor protection regarding appropriations volatility.

Data Collected

• Entities created: Dennis Muilenburg, John Hamilton, Dave Calhoun, Sam Salehpour, Paul J. McNulty, W. James McNerney Jr., Senate Committee on Commerce, Science, and Transportation, Senate Homeland Security and Governmental Affairs Committee, House Committee on Transportation and Infrastructure, Ted Cruz, Maria Cantwell, Marsha Blackburn
• Facts recorded: 4
• Connections mapped: 3
• Web sources consulted: 30

Sources

• Boeing Co (BA) 10-K Annual Report February 2025
• Boeing Co (BA) 10K Annual Reports & 10Q SEC Filings
• BOEING CO SEC 10-K Report — TradingView News
• FORM 10-K
• Boeing Company (The) Common Stock (BA) SEC Filings, 10-K Forms, & 10-Q Forms | Nasdaq
• Form 10-K
• 10-K
• Form 10-K
• The Boeing Company - 10K - Annual Report - January 31, 2024
• EDGAR Filing Documents for 0000012927-25-000015
• - THE BOEING COMPANY GLOBAL SETTLEMENT AGREEMENT
• "The Boeing 737 Max: Examining the Design, Development, and Marketing of the Aircraft." | Congress.gov | Library of Congress
• Hearings to examine Boeing's broken safety culture, focusing on testimony from CEO Dave Calhoun. | Congress.gov | Library of Congress
• 10-K
• CD296: The Boeing Hearings - Congressional Dish
• Senate Report 12.2020 - Boeing 737 MAX Government Investigation - Subject Research, Course Guides, Documentation at Union College
• Boeing tells Senate it's making progress on safety reforms and is in talks with DOJ over revised plea deal
• Form 10-K
• Boeing CEO Questioned on Whistleblower Retaliation at Senate Hearing
• WATCH: Boeing whistleblower testifies before Senate Homeland Security committee | PBS News
• 10-K
• the 2017 10-K
• Defense Implications of Challenges at Boeing | Congress.gov | Library of Congress
• How Much Do Government Contracts Contribute to Defense Suppliers’ Revenue Share? - TenderAlpha Blog
• FORM 10-K
• Form 10-K
• Boeing Company - Boeing Reports Fourth Quarter Results
• Boeing Reports Fourth Quarter Results - Jan 28, 2025
• Defense Implications of Challenges at Boeing - EveryCRSReport.com
• Boeing pleads guilty. What next for its government contracts? - Airforce Technology