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Revenues | 9 Months Ended
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Sep. 28, 2024
Revenue from Contract with Customer [Abstract] |
Revenues | Revenues Disaggregation of Revenues Our revenues disaggregated by major product type are presented below:
| Three Months Ended | Nine Months Ended
(In millions) | September 28, 2024 | September 30, 2023 | September 28, 2024 | September 30, 2023
Aircraft | $ | 869 |  | $ | 891 |  | $ | 2,576 |  | $ | 2,529 |
Aftermarket parts and services | 470 |  | 447 |  | 1,426 |  | 1,320 |
Textron Aviation | $ | 1,339 |  | $ | 1,338 |  | $ | 4,002 |  | $ | 3,849 |
Military aircraft and support programs | 553 |  | 472 |  | 1,532 |  | 1,252 |
Commercial helicopters, parts and services | 376 |  | 282 |  | 918 |  | 824 |
Bell | $ | 929 |  | $ | 754 |  | $ | 2,450 |  | $ | 2,076 |
Textron Systems | $ | 301 |  | $ | 309 |  | $ | 930 |  | $ | 921 |
Fuel systems and functional components | 452 |  | 465 |  | 1,432 |  | 1,476 |
Specialized vehicles | 388 |  | 457 |  | 1,214 |  | 1,404 |
Industrial | $ | 840 |  | $ | 922 |  | $ | 2,646 |  | $ | 2,880 |
Textron eAviation | $ | 6 |  | $ | 7 |  | $ | 22 |  | $ | 22 |
Finance | $ | 12 |  | $ | 13 |  | $ | 39 |  | $ | 43 |
Total revenues | $ | 3,427 |  | $ | 3,343 |  | $ | 10,089 |  | $ | 9,791 |
Our revenues for our segments by customer type and geographic location are presented below:
(In millions) | Textron Aviation | Bell | Textron Systems | Industrial | Textron eAviation | Finance | Total
Three months ended September 28, 2024 |  |  |  |  |  |
Customer type: |  |  |  |  |  |  |
Commercial | $ | 1,259 |  | $ | 356 |  | $ | 67 |  | $ | 834 |  | $ | 6 |  | $ | 12 |  | $ | 2,534 |
U.S. Government | 80 |  | 573 |  | 234 |  | 6 |  | — |  | — |  | 893 |
Total revenues | $ | 1,339 |  | $ | 929 |  | $ | 301 |  | $ | 840 |  | $ | 6 |  | $ | 12 |  | $ | 3,427 |
Geographic location: |  |  |  |  |  |  |
United States | $ | 1,002 |  | $ | 693 |  | $ | 273 |  | $ | 452 |  | $ | 5 |  | $ | 5 |  | $ | 2,430 |
Europe | 99 |  | 23 |  | 10 |  | 144 |  | 1 |  | — |  | 277 |
Other international | 238 |  | 213 |  | 18 |  | 244 |  | — |  | 7 |  | 720 |
Total revenues | $ | 1,339 |  | $ | 929 |  | $ | 301 |  | $ | 840 |  | $ | 6 |  | $ | 12 |  | $ | 3,427 |
Three months ended September 30, 2023 |  |  |  |  |  |
Customer type: |  |  |  |  |  |  |
Commercial | $ | 1,302 |  | $ | 270 |  | $ | 66 |  | $ | 915 |  | $ | 7 |  | $ | 13 |  | $ | 2,573 |
U.S. Government | 36 |  | 484 |  | 243 |  | 7 |  | — |  | — |  | 770 |
Total revenues | $ | 1,338 |  | $ | 754 |  | $ | 309 |  | $ | 922 |  | $ | 7 |  | $ | 13 |  | $ | 3,343 |
Geographic location: |  |  |  |  |  |  |
United States | $ | 906 |  | $ | 573 |  | $ | 275 |  | $ | 488 |  | $ | 4 |  | $ | 4 |  | $ | 2,250 |
Europe | 133 |  | 41 |  | 10 |  | 174 |  | 2 |  | — |  | 360 |
Other international | 299 |  | 140 |  | 24 |  | 260 |  | 1 |  | 9 |  | 733 |
Total revenues | $ | 1,338 |  | $ | 754 |  | $ | 309 |  | $ | 922 |  | $ | 7 |  | $ | 13 |  | $ | 3,343 |
Nine months ended September 28, 2024 |  |  |  |  |  |
Customer type: |  |  |  |  |  |  |
Commercial | $ | 3,757 |  | $ | 883 |  | $ | 218 |  | $ | 2,626 |  | $ | 22 |  | $ | 39 |  | $ | 7,545 |
U.S. Government | 245 |  | 1,567 |  | 712 |  | 20 |  | — |  | — |  | 2,544 |
Total revenues | $ | 4,002 |  | $ | 2,450 |  | $ | 930 |  | $ | 2,646 |  | $ | 22 |  | $ | 39 |  | $ | 10,089 |
Geographic location: |  |  |  |  |  |  |
United States | $ | 3,099 |  | $ | 1,891 |  | $ | 830 |  | $ | 1,409 |  | $ | 14 |  | $ | 13 |  | $ | 7,256 |
Europe | 252 |  | 60 |  | 35 |  | 525 |  | 6 |  | 5 |  | 883 |
Other international | 651 |  | 499 |  | 65 |  | 712 |  | 2 |  | 21 |  | 1,950 |
Total revenues | $ | 4,002 |  | $ | 2,450 |  | $ | 930 |  | $ | 2,646 |  | $ | 22 |  | $ | 39 |  | $ | 10,089 |
Nine months ended September 30, 2023 |  |  |  |  |  |
Customer type: |  |  |  |  |  |  |
Commercial | $ | 3,730 |  | $ | 803 |  | $ | 210 |  | $ | 2,866 |  | $ | 22 |  | $ | 43 |  | $ | 7,674 |
U.S. Government | 119 |  | 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 |
Europe | 358 |  | 95 |  | 41 |  | 579 |  | 8 |  | 1 |  | 1,082 |
Other international | 816 |  | 414 |  | 56 |  | 753 |  | 2 |  | 30 |  | 2,071 |
Total revenues | $ | 3,849 |  | $ | 2,076 |  | $ | 921 |  | $ | 2,880 |  | $ | 22 |  | $ | 43 |  | $ | 9,791 |
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 28, 2024, we had $16.0 billion in remaining performance obligations of which we expect to recognize revenues of approximately 64% through 2025, an additional 34% through 2027, 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 28, 2024 and December 30, 2023, contract assets totaled $376 million and $513 million, respectively, and contract liabilities totaled $1.8 billion for both dates, reflecting timing differences between revenues recognized, billings and payments from customers. We recognized revenues of $252 million and $70 million in the third quarter of 2024 and 2023, respectively, and $912 million and $766 million in the first nine months of 2024 and 2023, respectively, that were included in the contract liability balance at the beginning of each year.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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