Segment Information

9 Months Ended

Oct. 01, 2022

Segment Reporting [Abstract]

Segment Information

Segment InformationThrough the first quarter of 2022, we operated in, and reported financial information for, the following five business segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. Beginning in the second quarter of 2022, we formed a new reporting segment within the Manufacturing group, Textron eAviation, which includes the operating results of Pipistrel, a

manufacturer of electrically powered aircraft that we acquired on April 15, 2022, as discussed in Note 2, along with other research and development initiatives related to sustainable aviation solutions. Segment profit is an important measure used for evaluating performance and for decision-making purposes. Segment profit for the manufacturing segments includes non-service components of net periodic benefit cost/(income) and excludes interest expense, certain corporate expenses, gains/losses on major business dispositions and special charges. The measurement for the Finance segment includes interest income and expense along with intercompany interest income and expense.

Our revenues by segment, along with a reconciliation of segment profit to income from continuing operations before income taxes, are included in the table below:

	Three Months Ended				Nine Months Ended
(In millions)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Revenues
Textron Aviation	$	1,167	$	1,181	$	3,491	$	3,207
Bell	754		769		2,275		2,506
Textron Systems	292		299		858		960
Industrial	849		730		2,558		2,349
Textron eAviation	5		—		10		—
Finance	11		11		41		38
Total revenues	$	3,078	$	2,990	$	9,233	$	9,060
Segment Profit
Textron Aviation	$	139	$	98	$	415	$	241
Bell	85		105		246		320
Textron Systems	37		45		112		144
Industrial	39		23		123		102
Textron eAviation	(8)		—		(16)		—
Finance	7		8		26		17
Segment profit	299		279		906		824
Corporate expenses and other, net	(14)		(23)		(70)		(100)
Interest expense, net for Manufacturing group	(21)		(28)		(77)		(95)
Special charges	—		(10)		—		(20)
Gain on business disposition	—		—		—		17
Income from continuing operations before income taxes	$	264	$	218	$	759	$	626