Boeing in talks with US defense department on impact of guilty plea, source says
) is in talks with the U.S. Defense Department over how the planemaker's planned guilty plea could affect its extensive government contracts, a person briefed on the matter said.
Boeing's defense and space unit is vital to its business, with $7 billion in first quarter sales, up 6% from a year ago. Boeing in its annual report said U.S. government contracts represented 37% of its revenue last year including foreign military sales. As part of the plea deal, Boeing will pay a criminal fine of $243.6 million. Boeing has also agreed to invest at least $455 million over the next three years to strengthen its safety and compliance programs, have the Justice Department appoint a third party monitor to oversee the firm's compliance, and to make annual reports to the Department of Justice.
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