Segment Information

6 Months Ended

Jun. 29, 2019

Segment Information

Note 11. Segment Information

We operate in, and report financial information for, the following five business segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. On July 2, 2018, we sold our Tools and Test Equipment businesses that were previously included in the Industrial segment as discussed in Note 2 of our 2018 Annual Report on Form 10-K. 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, gains/losses on major business dispositions and special charges. The measurement for the Finance segment includes interest income and expense along with intercompany interest income and expense.

Our revenues by segment, along with a reconciliation of segment profit to income before income taxes, are included in the table below:

	Three Months Ended				Six Months Ended
	June 29,		June 30,		June 29,		June 30,
(In millions)	2019		2018		2019		2018
Revenues
Textron Aviation	$	1,123	$	1,276	$	2,257	$	2,286
Bell		771		831		1,510		1,583
Textron Systems		308		380		615		767
Industrial		1,009		1,222		1,921		2,353
Finance		16		17		33		33
Total revenues	$	3,227	$	3,726	$	6,336	$	7,022
Segment Profit
Textron Aviation	$	105	$	104	$	211	$	176
Bell		103		117		207		204
Textron Systems		49		40		77		90
Industrial		76		80		126		144
Finance		6		5		12		11
Segment profit		339		346		633		625
Corporate expenses and other, net		(24)		(51)		(71)		(78)
Interest expense, net for Manufacturing group		(36)		(35)		(71)		(69)
Income before income taxes	$	279	$	260	$	491	$	478