Revenues

3 Months Ended

Mar. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Disaggregation of Revenues

Our revenues disaggregated by major product type are presented below:

	Three Months Ended
(In millions)	March 30, 2024		April 1, 2023
Aircraft	$	732	$	718
Aftermarket parts and services	456		431
Textron Aviation	$	1,188	$	1,149
Military aircraft and support programs	480		385
Commercial helicopters, parts and services	247		236
Bell	$	727	$	621
Textron Systems	$	306	$	306
Fuel systems and functional components	488		488
Specialized vehicles	404		444
Industrial	$	892	$	932
Textron eAviation	$	7	$	4
Finance	$	15	$	12
Total revenues	$	3,135	$	3,024

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
Three months ended March 30, 2024
Customer type:
Commercial	$	1,155	$	239	$	72	$	884	$	7	$	15	$	2,372
U.S. Government	33		488		234		8		—		—		763
Total revenues	$	1,188	$	727	$	306	$	892	$	7	$	15	$	3,135
Geographic location:
United States	$	950	$	559	$	274	$	460	$	4	$	4	$	2,251
Europe	62		23		13		198		2		5		303
Other international	176		145		19		234		1		6		581
Total revenues	$	1,188	$	727	$	306	$	892	$	7	$	15	$	3,135
Three months ended April 1, 2023
Customer type:
Commercial	$	1,107	$	232	$	74	$	927	$	4	$	12	$	2,356
U.S. Government	42		389		232		5		—		—		668
Total revenues	$	1,149	$	621	$	306	$	932	$	4	$	12	$	3,024
Geographic location:
United States	$	836	$	460	$	275	$	494	$	1	$	4	$	2,070
Europe	66		19		14		204		2		—		305
Other international	247		142		17		234		1		8		649
Total revenues	$	1,149	$	621	$	306	$	932	$	4	$	12	$	3,024

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 revenues 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 March 30, 2024, we had $13.7 billion in remaining performance obligations of which we expect to recognize revenues of approximately 85% through 2025, an additional 14% through 2027, 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 March 30, 2024 and December 30, 2023, contract assets totaled $426 million and $513 million, respectively, and contract liabilities totaled $1.9 billion and $1.8 billion, respectively, reflecting timing differences between revenues recognized, billings and payments from customers. We recognized revenues of $327 million and $316 million in the first quarter of 2024 and 2023, respectively, that were included in the contract liability balance at the beginning of each year.