Segment Information

3 Months Ended

Mar. 30, 2013

Segment Information

Segment Information

Note 13.  Segment Information

We operate in, and report financial information for, the following five business segments: Cessna, Bell, Textron Systems, Industrial and Finance.  Segment profit is an important measure used for evaluating performance and for decision-making purposes.  Segment profit for the manufacturing segments excludes interest expense and certain corporate expenses.  The measurement for the Finance segment includes interest income and expense along with intercompany interest expense.  Provisions for losses on finance receivables involving the sale or lease of our products are recorded by the selling manufacturing division when our Finance group has recourse to the Manufacturing group.

Our revenues by segment and a reconciliation of segment profit to income from continuing operations before income taxes are as follows:

	Three Months Ended
(In millions)	March 30, 2013			March 31, 2012
REVENUES
Manufacturing group
Cessna	$	708		$	669
Bell	949			994
Textron Systems	429			377
Industrial	727			755
	2,813			2,795
Finance group	42			61
Total revenues	$	2,855		$	2,856
SEGMENT OPERATING PROFIT
Manufacturing group
Cessna	$	(8	)	$	(6	)
Bell	129			145
Textron Systems	38			35
Industrial	57			73
	216			247
Finance group	19			12
Segment profit	235			259
Corporate expenses and other, net	(55		)	(47		)
Interest expense, net for Manufacturing group	(37		)	(35		)
Income from continuing operations before income taxes	$	143		$	177