Segment and Geographic Data

12 Months Ended

Dec. 30, 2023

Segment Reporting [Abstract]

Segment and Geographic Data

Segment and Geographic Data

We operate in, and report financial information for, the following six operating segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation and Finance. The accounting policies of the segments are the same as those described in Note 1.

Textron Aviation products include Cessna Citation jets, Beechcraft King Air and Cessna Caravan turboprop aircraft, military trainer and defense aircraft, piston engine aircraft, and aftermarket part sales and services sold to a diverse customer base including fractional aircraft businesses, charter and fleet operators, corporate aviation, individual buyers, training schools, airlines, and special mission, military and government operators.

Bell products include military and commercial helicopters, tiltrotor aircraft and related spare parts and services. Bell supplies advanced military helicopters, tiltrotor aircraft, and aftermarket services to the U.S. and non-U.S. governments. Bell also supplies commercial helicopters and aftermarket services to corporate, private, law enforcement, utility, public safety and emergency medical helicopter operators, and U.S. and foreign governments.

Textron Systems products and services include electronic systems and solutions, advanced marine craft, piston aircraft engines, live military air-to-air and air-to-ship training, weapons and related components, unmanned aircraft systems, and both manned and unmanned armored and specialty vehicles for U.S. and international military, government and commercial customers.

Industrial products and markets include the following:

•Kautex products include blow-molded plastic fuel systems, including conventional plastic fuel tanks and pressurized fuel tanks for hybrid vehicle applications, clear-vision systems, plastic tanks for selective catalytic reduction systems and battery systems for use in electric vehicles, from hybrid to full battery-powered, that are sold to automobile OEMs; and

•Specialized Vehicles products include golf cars, off-road utility vehicles, powersports products, light transportation vehicles, aviation ground support equipment, professional turf-maintenance equipment and specialized turf-care vehicles that are marketed primarily to golf courses and resorts, government agencies and municipalities, consumers, outdoor enthusiasts, and commercial and industrial users.

The Textron eAviation segment manufactures a family of light aircraft and gliders with both electric and combustion engines, and also performs other research and development initiatives related to sustainable aviation solutions.

The Finance segment provides financing primarily to purchasers of new and pre-owned Textron Aviation aircraft and Bell helicopters.

Segment profit is an important measure used for evaluating performance and for decision-making purposes. Beginning in 2023, we changed how we measure our segment profit for the manufacturing segments to exclude the non-service components of pension and postretirement income, net; LIFO inventory provision; and intangible asset amortization. This measure also continues to exclude interest expense, net for Manufacturing group; certain corporate expenses; gains/losses on major business dispositions; and special charges. The prior periods have been recast to conform to this presentation. 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 as follows:

	Revenues						Segment Profit (Loss)
(In millions)	2023		2022		2021		2023		2022		2021
Textron Aviation	$	5,373	$	5,073	$	4,566	$	649	$	560	$	349
Bell	3,147		3,091		3,364		320		282		399
Textron Systems	1,235		1,172		1,273		147		132		178
Industrial	3,841		3,465		3,130		228		155		120
Textron eAviation	32		16		—		(63)		(24)		—
Finance	55		52		49		46		31		18
Total	$	13,683	$	12,869	$	12,382	$	1,327	$	1,136	$	1,064
Corporate expenses and other, net							(143)		(143)		(150)
Interest expense, net for Manufacturing group							(62)		(94)		(124)
LIFO inventory provision							(107)		(71)		(17)
Intangible asset amortization							(39)		(52)		(51)
Special charges*							(126)		—		(25)
Non-service components of pension and    postretirement income, net							237		240		159
Gain on business disposition							—		—		17
Income from continuing operations before income taxes							$	1,087	$	1,016	$	873

* See Note 16 for additional information.

Other information by segment is provided below:

	Assets				Capital Expenditures						Depreciation and Amortization
(In millions)	December 30, 2023		December 31, 2022		2023		2022		2021		2023		2022		2021
Textron Aviation	$	4,542	$	4,496	$	138	$	138	$	115	$	160	$	152	$	139
Bell	2,869		2,857		119		80		92		89		90		87
Textron Systems	2,008		1,989		48		57		80		41		49		45
Industrial	2,520		2,555		91		78		82		89		93		99
Textron eAviation	287		278		4		1		—		7		2		—
Finance	661		664		—		—		—		—		1		10
Corporate	3,969		3,454		2		—		6		9		10		10
Total	$	16,856	$	16,293	$	402	$	354	$	375	$	395	$	397	$	390

Geographic Data

Presented below is selected financial information by geographic area:

	Revenues*						Property, Plant and Equipment, net**
(In millions)	2023		2022		2021		December 30, 2023		December 31, 2022
United States	$	9,305	$	8,702	$	8,572	$	2,104	$	2,137
Europe	1,414		1,468		1,369		182		188
Other international	2,964		2,699		2,441		191		198
Total	$	13,683	$	12,869	$	12,382	$	2,477	$	2,523

* Revenues are attributed to countries based on the location of the customer.

** Property, plant and equipment, net is based on the location of the asset.