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Quarterly Data
 12 Months Ended
Dec. 28, 2013
Quarterly Data  
Quarterly Data

Quarterly Data

 

(Unaudited)

 

 

2013

2012

(Dollars in millions, except per share amounts)

 

 

Q1

 

Q2

 

Q3

 

Q4

Q1

 

Q2

 

Q3

 

Q4

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cessna

 

 

$

708

 

$

560

 

$

593

 

$

923

$

669

 

$

763

 

$

778

 

$

901

Bell

 

 

949

 

1,025

 

1,162

 

1,375

994

 

1,056

 

1,075

 

1,149

Textron Systems

 

 

429

 

422

 

405

 

409

377

 

389

 

400

 

571

Industrial

 

 

727

 

801

 

711

 

773

755

 

756

 

683

 

706

Finance

 

 

42

 

31

 

33

 

26

61

 

55

 

64

 

35

Total revenues

 

 

$

2,855

 

$

2,839

 

$

2,904

 

$

3,506

$

2,856

 

$

3,019

 

$

3,000

 

$

3,362

Segment profit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cessna (a)

 

 

$

(8

)

$

(50

)

$

(23

)

$

33

$

(6

)

$

35

 

$

30

 

$

23

Bell

 

 

129

 

135

 

131

 

178

145

 

152

 

165

 

177

Textron Systems

 

 

38

 

34

 

35

 

40

35

 

40

 

21

 

36

Industrial

 

 

57

 

79

 

52

 

54

73

 

61

 

38

 

43

Finance

 

 

19

 

15

 

13

 

2

12

 

22

 

28

 

2

Total segment profit

 

 

235

 

213

 

208

 

307

259

 

310

 

282

 

281

Corporate expenses and other, net

 

 

(55

)

(20

)

(34

)

(57)

(47

)

(20

)

(38

)

(43)

Interest expense, net for Manufacturing group

 

 

(37

)

(30

)

(29

)

(27)

(35

)

(35

)

(35

)

(38)

Income tax expense

 

 

(28

)

(49

)

(47

)

(52)

(57

)

(82

)

(67

)

(54)

Income from continuing operations

 

 

115

 

114

 

98

 

171

120

 

173

 

142

 

146

Income (loss) from discontinued operations, net of income taxes

 

 

4

 

(1

)

1

 

(4)

(2

)

(1

)

9

 

2

Net income

 

 

$

119

 

$

113

 

$

99

 

$

167

$

118

 

$

172

 

$

151

 

$

148

Basic earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

 

$

0.42

 

$

0.41

 

$

0.35

 

$

0.60

$

0.43

 

$

0.61

 

$

0.51

 

$

0.52

Discontinued operations

 

 

0.02

 

(0.01

)

—

 

(0.01)

(0.01

)

—

 

0.03

 

0.01

Basic earnings per share

 

 

$

0.44

 

$

0.40

 

$

0.35

 

$

0.59

$

0.42

 

$

0.61

 

$

0.54

 

$

0.53

Basic average shares outstanding (In thousands)

 

 

273,200

 

280,163

 

281,525

 

282,308

280,022

 

281,114

 

281,813

 

277,780

Diluted earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

 

$

0.40

 

$

0.40

 

$

0.35

 

$

0.60

$

0.41

 

$

0.58

 

$

0.48

 

$

0.50

Discontinued operations

 

 

0.01

 

—

 

—

 

(0.01)

(0.01

)

—

 

0.03

 

0.01

Diluted earnings per share

 

 

$

0.41

 

$

0.40

 

$

0.35

 

$

0.59

$

0.40

 

$

0.58

 

$

0.51

 

$

0.51

Diluted average shares outstanding (In thousands)

 

 

288,978

 

283,824

 

281,710

 

282,707

294,632

 

295,547

 

296,920

 

291,562

Segment profit margins

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cessna

 

 

(1.1)%

 

(8.9)%

 

(3.9)%

 

3.6%

(0.9)%

 

4.6%

 

3.9%

 

2.6%

Bell

 

 

13.6 

 

13.2 

 

11.3 

 

12.9

14.6 

 

14.4

 

15.3

 

15.4

Textron Systems

 

 

8.9 

 

8.1 

 

8.6 

 

9.8

9.3 

 

10.3

 

5.3

 

6.3

Industrial

 

 

7.8 

 

9.9 

 

7.3 

 

7.0

9.7 

 

8.1

 

5.6

 

6.1

Finance

 

 

45.2 

 

48.4 

 

39.4 

 

7.7

19.7 

 

40.0

 

43.8

 

5.7

Segment profit margin

 

 

8.2% 

 

7.5% 

 

7.2% 

 

8.8%

9.1% 

 

10.3%

 

9.4%

 

8.4%

Common stock information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Price range: High

 

 

$

31.30

 

$

30.22

 

$

29.81

 

$

37.43

$

28.29

 

$

29.18

 

$

28.80

 

$

26.75

Low

 

 

$

23.94

 

$

24.87

 

$

25.36

 

$

26.17

$

18.37

 

$

21.97

 

$

22.15

 

$

22.84

Dividends declared per share

 

 

$

0.02

 

$

0.02

 

$

0.02

 

$

0.02

$

0.02

 

$

0.02

 

$

0.02

 

$

0.02

(a)          The second quarter of 2013 included $28 million in severance costs.  The fourth quarter of 2012 included a $27 million charge related to an award against Cessna in an arbitration proceeding.