Segment Information

9 Months Ended

Sep. 28, 2013

Segment Information

Segment Information

Note 12.  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					Nine Months Ended
(In millions)	September 28, 2013		September 29, 2012			September 28, 2013		September 29, 2012
REVENUES
Manufacturing Group
Cessna	$	593	$	778		$	1,861	$	2,210
Bell	1,162		1,075			3,136		3,125
Textron Systems	405		400			1,256		1,166
Industrial	711		683			2,239		2,194
	2,871		2,936			8,492		8,695
Finance Group	33		64			106		180
Total revenues	$	2,904	$	3,000		$	8,598	$	8,875
SEGMENT OPERATING PROFIT
Manufacturing Group
Cessna	$	(23)	$	30		$	(81)	$	59
Bell	131		165			395		462
Textron Systems	35		21			107		96
Industrial	52		38			188		172
	195		254			609		789
Finance Group	13		28			47		62
Segment profit	208		282			656		851
Corporate expenses and other, net	(34)		(38		)	(109)		(105		)
Interest expense, net for Manufacturing group	(29)		(35		)	(96)		(105		)
Income from continuing operations before income taxes	$	145	$	209		$	451	$	641