Revenues

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Disaggregation of Revenues

Our revenues disaggregated by major product type are presented below:

(In millions)	2022		2021		2020
Aircraft	$	3,387	$	3,116	$	2,714
Aftermarket parts and services	1,686		1,450		1,260
Textron Aviation	5,073		4,566		3,974
Military aircraft and support programs	1,740		2,073		2,213
Commercial helicopters, parts and services	1,351		1,291		1,096
Bell	3,091		3,364		3,309
Textron Systems	1,172		1,273		1,313
Fuel systems and functional components	1,771		1,735		1,751
Specialized vehicles	1,694		1,395		1,249
Industrial	3,465		3,130		3,000
Textron eAviation	16		—		—
Finance	52		49		55
Total revenues	$	12,869	$	12,382	$	11,651

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

(In millions)	Textron Aviation		Bell		Textron Systems		Industrial		Textron eAviation		Finance		Total
2022
Customer type:
Commercial	$	4,959	$	1,284	$	274	$	3,450	$	16	$	52	$	10,035
U.S. Government	114		1,807		898		15		—		—		2,834
Total revenues	$	5,073	$	3,091	$	1,172	$	3,465	$	16	$	52	$	12,869
Geographic location:
United States	$	3,520	$	2,242	$	1,054	$	1,862	$	7	$	17	$	8,702
Europe	579		139		42		699		6		3		1,468
Other international	974		710		76		904		3		32		2,699
Total revenues	$	5,073	$	3,091	$	1,172	$	3,465	$	16	$	52	$	12,869
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
Other international	746		768		103		803		—		21		2,441
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
Other international	793		597		140		816		—		26		2,372
Total revenues	$	3,974	$	3,309	$	1,313	$	3,000	$	—	$	55	$	11,651

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 December 31, 2022, we had $13.3 billion in remaining performance obligations of which we expect to recognize revenues of approximately 86% through 2024, an additional 11% through 2026, 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 December 31, 2022 and January 1, 2022, contract assets totaled $680 million and $717 million, respectively, and contract liabilities totaled $1.5 billion and $1.2 billion, respectively, reflecting timing differences between revenues recognized, billings and payments from customers. During 2022, 2021 and 2020, we recognized revenues of $873 million, $600 million and $506 million, respectively, that were included in the contract liability balance at the beginning of each year.