Revenues

12 Months Ended

Jan. 01, 2022

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Disaggregation of Revenues

Our revenues disaggregated by major product type are presented below:

(In millions)	2021		2020		2019
Aircraft	$	3,116	$	2,714	$	3,592
Aftermarket parts and services	1,450		1,260		1,595
Textron Aviation	4,566		3,974		5,187
Military aircraft and support programs	2,073		2,213		1,988
Commercial helicopters, parts and services	1,291		1,096		1,266
Bell	3,364		3,309		3,254
Textron Systems	1,273		1,313		1,325
Fuel systems and functional components	1,735		1,751		2,237
Specialized vehicles	1,395		1,249		1,561
Industrial	3,130		3,000		3,798
Finance	49		55		66
Total revenues	$	12,382	$	11,651	$	13,630

Our revenues for our segments by customer type and geographic location are presented below:

(In millions)	Textron Aviation		Bell		Textron Systems		Industrial		Finance		Total
2021
Customer type:
Commercial	$	4,435	$	1,328	$	257	$	3,113	$	49	$	9,182
U.S. Government	131		2,036		1,016		17		—		3,200
Total revenues	$	4,566	$	3,364	$	1,273	$	3,130	$	49	$	12,382
Geographic location:
United States	$	3,424	$	2,425	$	1,126	$	1,570	$	27	$	8,572
Europe	396		171		44		757		1		1,369
Asia and Australia	298		390		62		378		5		1,133
Other international	448		378		41		425		16		1,308
Total revenues	$	4,566	$	3,364	$	1,273	$	3,130	$	49	$	12,382
2020
Customer type:
Commercial	$	3,826	$	1,079	$	249	$	2,993	$	55	$	8,202
U.S. Government	148		2,230		1,064		7		—		3,449
Total revenues	$	3,974	$	3,309	$	1,313	$	3,000	$	55	$	11,651
Geographic location:
United States	$	2,825	$	2,564	$	1,129	$	1,398	$	27	$	7,943
Europe	356		148		44		786		2		1,336
Asia and Australia	379		330		67		328		2		1,106
Other international	414		267		73		488		24		1,266
Total revenues	$	3,974	$	3,309	$	1,313	$	3,000	$	55	$	11,651
2019
Customer type:
Commercial	$	4,956	$	1,238	$	359	$	3,775	$	66	$	10,394
U.S. Government	231		2,016		966		23		—		3,236
Total revenues	$	5,187	$	3,254	$	1,325	$	3,798	$	66	$	13,630
Geographic location:
United States	$	3,708	$	2,440	$	1,083	$	1,698	$	34	$	8,963
Europe	678		142		73		1,091		2		1,986
Asia and Australia	244		348		103		374		1		1,070
Other international	557		324		66		635		29		1,611
Total revenues	$	5,187	$	3,254	$	1,325	$	3,798	$	66	$	13,630

Remaining Performance Obligations

Our remaining performance obligations, which is the equivalent of our backlog, represent the expected transaction price allocated to our contracts that we expect to recognize as revenue in future periods when we perform under the contracts.  These remaining obligations exclude unexercised contract options and potential orders under ordering-type contracts such as Indefinite Delivery, Indefinite Quantity contracts. At January 1, 2022, we had $10.1 billion in remaining performance obligations of which we expect to recognize revenues of approximately 82% through 2023, an additional 16% through 2025, and the balance thereafter.  

Contract Assets and Liabilities

Assets and liabilities related to our contracts with customers are reported on a contract-by-contract basis at the end of each reporting period. At January 1, 2022 and January 2, 2021, contract assets totaled $717 million and $561 million, respectively, and contract liabilities totaled $1.2 billion and $842 million, respectively, reflecting timing differences between revenues recognized, billings and payments from customers. During 2021, 2020 and 2019, we recognized revenues of $600 million, $506 million and $590 million, respectively, that were included in the contract liability balance at the beginning of each year.