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Segment Information
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
We operate in, and reported financial information for, the following six business segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation and Finance. Segment profit is an important measure used for evaluating performance and for decision-making purposes. Beginning in 2023, we changed how we measure our manufacturing segment operating results to exclude the non-service components of pension and postretirement income, net; LIFO inventory provision; and intangible asset amortization. This measure also continues to exclude interest expense, net for Manufacturing group; certain corporate expenses; gains/losses on major business dispositions; and special charges. The prior period has been recast to conform to this presentation. 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 from continuing operations before income taxes, are included in the table below:
Three Months EndedNine Months Ended
(In millions)September 30,
2023
October 1,
2022
September 30,
2023
October 1,
2022
Revenues
Textron Aviation$1,338 $1,167 $3,849 $3,491 
Bell754 754 2,076 2,275 
Textron Systems309 292 921 858 
Industrial922 849 2,880 2,558 
Textron eAviation22 10 
Finance13 11 43 41 
Total revenues$3,343 $3,078 $9,791 $9,233 
Segment Profit
Textron Aviation$160 $131 $456 $390 
Bell77 74 202 219 
Textron Systems41 31 112 97 
Industrial51 36 171 112 
Textron eAviation(19)(7)(40)(14)
Finance22 42 26 
Segment profit332 272 943 830 
Corporate expenses and other, net(38)(21)(98)(93)
Interest expense, net for Manufacturing group(16)(21)(49)(77)
LIFO inventory provision(26)(13)(86)(42)
Intangible asset amortization(10)(13)(30)(39)
Non-service components of pension and postretirement income, net59 60 177 180 
Income from continuing operations before income taxes$301 $264 $857 $759