Boeing takes 210 orders off books due to ASC 606, 1Q2019 order total at negative 119

Boeing updated (23-Apr-2019) its orders and deliveries website for the year to 31-Mar-2019. The OEM removed orders for 210 aircraft related to changes with the new ASC 606 revenue recognition accounting standard. This imposes additional criteria for recognising the contracted backlog with customers beyond the existence of a firm contract to deliver. Order changes include:

• 737: 12 new orders from 'Unidentified Customer(s)'. 200 order book adjustments due to ASC 606 changes. Three orders cancelled due to "contractual changes". Total -171 for the year to date;
• 767: Four order conversions;
• 777: British Airways order for 18 777Xs, DHL order for two 777Fs;
• 787: Bamboo Airways order for 10, Boeing Capital Corporation order for one, Lufthansa order for 20 and 'Unidentified Customer(s)' orders for eight. 10 order book adjustments due to ASC 606 changes. One order cancelled due to "contractual changes";
• 2019 orders to date:
  • 737: -171;
  • 767: Four;
  • 777: 20
  • 787: 28;
  • Total: -119.