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Segment Financial Information
 12 Months Ended
Dec. 28, 2024
Segment Reporting [Abstract]  
Segment Financial Information Segment Financial Information
We operate in, and report financial information for, the following six operating segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation and Finance. The accounting policies of the segments are the same as those described in Note 1.
Textron Aviation products and services include Cessna Citation jets, Beechcraft and Cessna turboprop aircraft, military trainer and defense aircraft, piston engine aircraft, advanced flight training devices, aftermarket parts and maintenance, inspection and repair services. Textron Aviation has a diverse customer base including fractional aircraft businesses, charter and fleet operators, corporate aviation, individual buyers, training schools, airlines, and special mission, military and government operators.
Bell products and services include development of a next generation tiltrotor aircraft, the V-22 tiltrotor aircraft, advanced military helicopters, and aftermarket parts and support services to the U.S. and non-U.S. governments. Bell also supplies commercial helicopters and aftermarket parts and services to corporate, private, law enforcement, utility, public safety and emergency medical helicopter operators, and U.S. and foreign governments.
Textron Systems products and services include electronic systems and solutions, advanced marine craft, piston aircraft engines, live military air-to-air and air-to-ship training, weapons and related components, unmanned aircraft systems, and both manned and unmanned armored and specialty vehicles for U.S. and international military, government and commercial customers.
Industrial products and markets include the following:
•Kautex products include blow-molded plastic fuel systems, including conventional plastic fuel tanks and pressurized fuel tanks for hybrid vehicle applications, clear-vision systems, plastic tanks for selective catalytic reduction systems and battery systems for use in electric vehicles, from hybrid to full battery-powered, that are sold to automobile OEMs; and
•Textron Specialized Vehicles products include golf cars, off-road utility vehicles, powersports products, light transportation vehicles, aviation ground support equipment, professional turf-maintenance equipment and specialized turf-care vehicles that are marketed primarily to golf courses and resorts, government agencies and municipalities, consumers, outdoor enthusiasts, and commercial and industrial users.
The Textron eAviation segment is focused on research and development initiatives related to sustainable aviation solutions and also manufactures a family of light aircraft and gliders with both electric and combustion engines.
The Finance segment provides financing primarily to purchasers of new and pre-owned Textron Aviation aircraft and Bell helicopters.
In November 2023, the Financial Accounting Standards Board issued Accounting Standard Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires a public entity to disclose, on an annual and interim basis, significant segment expenses and other segment items that are regularly provided to the Chief Operating Decision Maker (CODM). The new standard is effective for fiscal years beginning after December 15, 2023. We adopted ASU 2023-07 in the fourth quarter of 2024. In connection with the adoption of this standard, research and development costs previously included within Cost of products sold are now reported on a separate line in our Consolidated Statements of Operations. Prior period amounts have been recast to conform to the new presentation.
Textron’s CODM is its Chairman and Chief Executive Officer, Scott Donnelly. Mr. Donnelly utilizes segment profit to evaluate the performance of the segments to establish management's compensation and for decision-making purposes, including the allocation of capital resources between segments. Segment profit for the manufacturing segments excludes the non-service components of pension and postretirement income, net; LIFO inventory provision; intangible asset amortization; interest expense, net for Manufacturing group; certain corporate expenses; gains/losses on major business dispositions; special charges; and the inventory valuation charge to write down production-related powersports inventory discussed in Note 15. The measurement for the Finance segment includes interest income and expense along with intercompany interest income and expense.
Our revenues and expenses by segment are provided below:
(in millions)Textron AviationBellTextron SystemsIndustrialTextron eAviationFinanceTotal
2024
Revenues$5,284 $3,579 $1,241 $3,515 $33 $50 $13,702 
Costs and expenses:
Cost of sales4,102 2,899 929 2,993 29 — 10,952 
Research and development costs208 97 51 72 63 — 491 
Selling and administrative expense408 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 sales4,116 2,392 925 3,221 35 — 10,689 
Research and development costs199 192 53 80 46 — 570 
Selling and administrative expense409 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 sales3,905 2,316 878 2,959 18 — 10,076 
Research and development costs191 266 53 71 20 — 601 
Selling and administrative expense417 227 109 280 2 8 1,043 
Interest expense, net— — — — — 13 13 
Segment profit (loss)$560 $282 $132 $155 $(24)$31 $1,136 
A reconciliation of segment profit to income from continuing operations before income taxes is presented below:
(in millions)202420232022
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, net263 237 240 
Income from continuing operations before income taxes$943 $1,087 $1,016 
* See Note 15 for additional information.
Other information by segment is provided below:
AssetsCapital ExpendituresDepreciation and Amortization
(In millions)December 28,
2024		December 30,
2023		202420232022202420232022
Textron Aviation$4,624 $4,542 $136 $138 $138 $164 $160 $152 
Bell2,992 2,869 122 119 80 86 89 90 
Textron Systems2,036 2,008 40 48 57 48 41 49 
Industrial2,378 2,520 62 91 78 70 89 93 
Textron eAviation286 287 4 4 1 7 7 2 
Finance680 661 — — — — — 1 
Corporate3,842 3,969 — 2 — 7 9 10 
Total$16,838 $16,856 $364 $402 $354 $382 $395 $397 
At December 28, 2024 and December 30, 2023, 86% and 85%, respectively, of our property, plant and equipment, net was located in the United States.