Segment Information (Tables)

6 Months Ended

Jul. 04, 2020

Segment Information

Revenues by segment and reconciliation of segment profit to income (loss) before income taxes

	Three Months Ended				Six Months Ended
	July 4,		June 29,		July 4,		June 29,
(In millions)	2020		2019		2020		2019
Revenues
Textron Aviation	$	747	$	1,123	$	1,619	$	2,257
Bell		822		771		1,645		1,510
Textron Systems		326		308		654		615
Industrial		562		1,009		1,302		1,921
Finance		15		16		29		33
Total revenues	$	2,472	$	3,227	$	5,249	$	6,336
Segment Profit
Textron Aviation	$	(66)	$	105	$	(63)	$	211
Bell		118		103		233		207
Textron Systems		37		49		63		77
Industrial		(11)		76		(2)		126
Finance		4		6		7		12
Segment profit		82		339		238		633
Corporate expenses and other, net		(30)		(24)		(44)		(71)
Interest expense, net for Manufacturing group		(37)		(36)		(71)		(71)
Special charges		(78)		—		(117)		—
Inventory charge*		(55)		—		(55)		—
Income (loss) before income taxes	$	(118)	$	279	$	(49)	$	491

* In connection with the restructuring plan initiated in the second quarter of 2020, we ceased manufacturing at the Montreal facility of the TRU Simulation + Training business, resulting in the production suspension of our commercial air transport simulators. As a result of this action and current market conditions, we recorded a $55 million charge to write-down the related inventory to its net realizable value.