Segment Information

3 Months Ended

Mar. 29, 2014

Segment Information

Segment Information

Note 14.  Segment Information

We operate in, and report financial information for, the following five business segments: Bell, Textron Systems, Industrial, Finance and the newly formed Textron Aviation segment as discussed in Note 1.

Segment profit is an important measure used for evaluating performance and for decision-making purposes. Segment profit for the manufacturing segments excludes interest expense, certain corporate expenses and acquisition and restructuring costs related to the Beechcraft acquisition. The measurement for the Finance segment includes interest income and expense along with intercompany interest expense. 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 29, 2014			March 30, 2013
REVENUES
Manufacturing group
Textron Aviation	$	785		$	708
Bell	873			949
Textron Systems	363			429
Industrial	797			727
	2,818			2,813
Finance segment	29			42
Total revenues	$	2,847		$	2,855
SEGMENT PROFIT
Manufacturing group
Textron Aviation	$	14		$	(8	)
Bell	96			129
Textron Systems	39			38
Industrial	66			57
	215			216
Finance segment	4			19
Segment profit	219			235
Corporate expenses and other, net	(43		)	(55		)
Interest expense, net for Manufacturing group	(35		)	(37		)
Acquisition and restructuring costs	(16		)	—
Income from continuing operations before income taxes	$	125		$	143