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Revenues
9 Months Ended
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 EndedNine 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 services470 447 1,426 1,320 
Textron Aviation$1,339 $1,338 $4,002 $3,849 
Military aircraft and support programs553 472 1,532 1,252 
Commercial helicopters, parts and services376 282 918 824 
Bell$929 $754 $2,450 $2,076 
Textron Systems$301 $309 $930 $921 
Fuel systems and functional components452 465 1,432 1,476 
Specialized vehicles388 457 1,214 1,404 
Industrial$840 $922 $2,646 $2,880 
Textron eAviation$$$22 $22 
Finance$12 $13 $39 $43 
Total revenues$3,427 $3,343 $10,089 $9,791 
Our revenues for our segments by customer type and geographic location are presented below:
(In millions)Textron
Aviation
BellTextron
Systems
IndustrialTextron eAviationFinanceTotal
Three months ended September 28, 2024
Customer type:
Commercial$1,259 $356 $67 $834 $$12 $2,534 
U.S. Government80 573 234 — — 893 
Total revenues$1,339 $929 $301 $840 $$12 $3,427 
Geographic location:
United States$1,002 $693 $273 $452 $$$2,430 
Europe99 23 10 144 — 277 
Other international238 213 18 244 — 720 
Total revenues$1,339 $929 $301 $840 $$12 $3,427 
Three months ended September 30, 2023
Customer type:
Commercial$1,302 $270 $66 $915 $$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 
Nine months ended September 28, 2024
Customer type:
Commercial$3,757 $883 $218 $2,626 $22 $39 $7,545 
U.S. Government245 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 
Europe252 60 35 525 883 
Other international651 499 65 712 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. 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 
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.