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Revenues
9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Disaggregation of Revenues
Our revenues for our segments disaggregated by major product type are presented below:
Three Months EndedNine Months Ended
(In millions)September 30,
2023
October 1,
2022
September 30,
2023
October 1,
2022
Aircraft$891 $733 $2,529 $2,235 
Aftermarket parts and services447 434 1,320 1,256 
Textron Aviation1,338 1,167 3,849 3,491 
Military aircraft and support programs472 376 1,252 1,375 
Commercial helicopters, parts and services282 378 824 900 
Bell754 754 2,076 2,275 
Textron Systems309 292 921 858 
Fuel systems and functional components465 436 1,476 1,335 
Specialized vehicles457 413 1,404 1,223 
Industrial922 849 2,880 2,558 
Textron eAviation22 10 
Finance13 11 43 41 
Total revenues$3,343 $3,078 $9,791 $9,233 
Our revenues for our segments by customer type and geographic location are presented below:
(In millions)Textron
Aviation
BellTextron
Systems
IndustrialTextron eAviationFinanceTotal
Three months ended September 30, 2023
Customer type:
Commercial$1,302 $270 $66 $915 $$13 $2,573 
U.S. Government36 484 243 — — 770 
Total revenues$1,338 $754 $309 $922 $$13 $3,343 
Geographic location:
United States$906 $573 $275 $488 $$$2,250 
Europe133 41 10 174 — 360 
Other international299 140 24 260 733 
Total revenues$1,338 $754 $309 $922 $$13 $3,343 
Three months ended October 1, 2022
Customer type:
Commercial$1,134 $362 $70 $849 $$11 $2,431 
U.S. Government33 392 222 — — — 647 
Total revenues$1,167 $754 $292 $849 $$11 $3,078 
Geographic location:
United States$872 $534 $261 $470 $$$2,143 
Europe93 47 10 153 305 
Other international202 173 21 226 630 
Total revenues$1,167 $754 $292 $849 $$11 $3,078 
Nine months ended September 30, 2023
Customer type:
Commercial$3,730 $803 $210 $2,866 $22 $43 $7,674 
U.S. Government119 1,273 711 14 — — 2,117 
Total revenues$3,849 $2,076 $921 $2,880 $22 $43 $9,791 
Geographic location:
United States$2,675 $1,567 $824 $1,548 $12 $12 $6,638 
Europe358 95 41 579 1,082 
Other international816 414 56 753 30 2,071 
Total revenues$3,849 $2,076 $921 $2,880 $22 $43 $9,791 
Nine months ended October 1, 2022
Customer type:
Commercial$3,408 $875 $201 $2,549 $10 $41 $7,084 
U.S. Government83 1,400 657 — — 2,149 
Total revenues$3,491 $2,275 $858 $2,558 $10 $41 $9,233 
Geographic location:
United States$2,380 $1,708 $775 $1,362 $$13 $6,242 
Europe451 118 28 528 1,131 
Other international660 449 55 668 26 1,860 
Total revenues$3,491 $2,275 $858 $2,558 $10 $41 $9,233 
Remaining Performance Obligations
Our remaining performance obligations, which is the equivalent of our backlog, represent the expected transaction price allocated to our contracts that we expect to recognize as revenues in future periods when we perform under the contracts.  These remaining obligations exclude unexercised contract options and potential orders under ordering-type contracts such as Indefinite Delivery, Indefinite Quantity contracts. At September 30, 2023, we had $14.5 billion in remaining performance obligations of which we expect to recognize revenues of approximately 70% through 2024, an additional 26% through 2026, and the balance thereafter.  
Contract Assets and Liabilities
Assets and liabilities related to our contracts with customers are reported on a contract-by-contract basis at the end of each reporting period. At September 30, 2023 and December 31, 2022, contract assets totaled $513 million and $680 million, respectively, and contract liabilities totaled $1.7 billion and $1.5 billion, respectively, reflecting timing differences between revenues recognized, billings and payments from customers. We recognized revenues of $70 million and $130 million in the third quarter of 2023 and 2022, respectively, and $766 million and $629 million in the first nine months of 2023 and 2022, respectively, that were included in the contract liability balance at the beginning of each year.