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Segment Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 28, 2024
Segment Reporting [Abstract] |
Reconciliation of Revenues by Segment | Our revenues and expenses by segment are provided below:
(in millions) | Textron Aviation | Bell | Textron Systems | Industrial | Textron eAviation | Finance | Total
2024 |  |  |  |  |  |  |
Revenues | $ | 5,284 |  | $ | 3,579 |  | $ | 1,241 |  | $ | 3,515 |  | $ | 33 |  | $ | 50 |  | $ | 13,702 |
Costs and expenses: |  |  |  |  |  |  |
Cost of sales | 4,102 |  | 2,899 |  | 929 |  | 2,993 |  | 29 |  | — |  | 10,952 |
Research and development costs | 208 |  | 97 |  | 51 |  | 72 |  | 63 |  | — |  | 491 |
Selling and administrative expense | 408 |  | 213 |  | 107 |  | 299 |  | 17 |  | (4) |  | 1,040 |
Interest expense, net | — |  | — |  | — |  | — |  | — |  | 19 |  | 19 |
Segment profit (loss) | $ | 566 |  | $ | 370 |  | $ | 154 |  | $ | 151 |  | $ | (76) |  | $ | 35 |  | $ | 1,200 |
2023 |  |  |  |  |  |  |
Revenues | $ | 5,373 |  | $ | 3,147 |  | $ | 1,235 |  | $ | 3,841 |  | $ | 32 |  | $ | 55 |  | $ | 13,683 |
Costs and expenses: |  |  |  |  |  |  |
Cost of sales | 4,116 |  | 2,392 |  | 925 |  | 3,221 |  | 35 |  | — |  | 10,689 |
Research and development costs | 199 |  | 192 |  | 53 |  | 80 |  | 46 |  | — |  | 570 |
Selling and administrative expense | 409 |  | 243 |  | 110 |  | 312 |  | 14 |  | (6) |  | 1,082 |
Interest expense, net | — |  | — |  | — |  | — |  | — |  | 15 |  | 15 |
Segment profit (loss) | $ | 649 |  | $ | 320 |  | $ | 147 |  | $ | 228 |  | $ | (63) |  | $ | 46 |  | $ | 1,327 |
2022 |  |  |  |  |  |  |
Revenues | $ | 5,073 |  | $ | 3,091 |  | $ | 1,172 |  | $ | 3,465 |  | $ | 16 |  | $ | 52 |  | $ | 12,869 |
Costs and expenses: |  |  |  |  |  |  |
Cost of sales | 3,905 |  | 2,316 |  | 878 |  | 2,959 |  | 18 |  | — |  | 10,076 |
Research and development costs | 191 |  | 266 |  | 53 |  | 71 |  | 20 |  | — |  | 601 |
Selling and administrative expense | 417 |  | 227 |  | 109 |  | 280 |  | 2 |  | 8 |  | 1,043 |
Interest expense, net | — |  | — |  | — |  | — |  | — |  | 13 |  | 13 |
Segment profit (loss) | $ | 560 |  | $ | 282 |  | $ | 132 |  | $ | 155 |  | $ | (24) |  | $ | 31 |  | $ | 1,136 |
Reconciliation of Segment Profit to Income From Continuing Operations Before Income Taxes | A reconciliation of segment profit to income from continuing operations before income taxes is presented below:
(in millions) | 2024 | 2023 | 2022
Segment profit | $ | 1,200 |  | $ | 1,327 |  | $ | 1,136 |
Unallocated amounts: |  |  |
Corporate expenses and other, net | (116) |  | (143) |  | (143) |
Interest expense, net for Manufacturing group | (78) |  | (62) |  | (94) |
LIFO inventory provision | (176) |  | (107) |  | (71) |
Intangible asset amortization | (34) |  | (39) |  | (52) |
Special charges* | (78) |  | (126) |  | — |
Inventory charge* | (38) |  | — |  | — |
Non-service components of pension and postretirement income, net | 263 |  | 237 |  | 240 |
Income from continuing operations before income taxes | $ | 943 |  | $ | 1,087 |  | $ | 1,016 |
* See Note 15 for additional information.
Other Information by Segment | Other information by segment is provided below:
| Assets | Capital Expenditures | Depreciation and Amortization
(In millions) | December 28, 2024 | December 30, 2023 | 2024 | 2023 | 2022 | 2024 | 2023 | 2022
Textron Aviation | $ | 4,624 |  | $ | 4,542 |  | $ | 136 |  | $ | 138 |  | $ | 138 |  | $ | 164 |  | $ | 160 |  | $ | 152 |
Bell | 2,992 |  | 2,869 |  | 122 |  | 119 |  | 80 |  | 86 |  | 89 |  | 90 |
Textron Systems | 2,036 |  | 2,008 |  | 40 |  | 48 |  | 57 |  | 48 |  | 41 |  | 49 |
Industrial | 2,378 |  | 2,520 |  | 62 |  | 91 |  | 78 |  | 70 |  | 89 |  | 93 |
Textron eAviation | 286 |  | 287 |  | 4 |  | 4 |  | 1 |  | 7 |  | 7 |  | 2 |
Finance | 680 |  | 661 |  | — |  | — |  | — |  | — |  | — |  | 1 |
Corporate | 3,842 |  | 3,969 |  | — |  | 2 |  | — |  | 7 |  | 9 |  | 10 |
Total | $ | 16,838 |  | $ | 16,856 |  | $ | 364 |  | $ | 402 |  | $ | 354 |  | $ | 382 |  | $ | 395 |  | $ | 397 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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