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v3.25.1

Segment Financial Information | 3 Months Ended
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Mar. 29, 2025
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. 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; and special charges. 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 Aviation | Bell | Textron Systems | Industrial | Textron eAviation | Finance | Total
Three months ended March 29, 2025 |  |  |  |  |  |  |
Revenues | $ | 1,212 |  | $ | 983 |  | $ | 296 |  | $ | 792 |  | $ | 7 |  | $ | 16 |  | $ | 3,306 |
Costs and expenses: |  |  |  |  |  |  |
Cost of sales | 929 |  | 803 |  | 219 |  | 678 |  | 6 |  | — |  | 2,635 |
Research and development costs | 57 |  | 39 |  | 8 |  | 14 |  | 14 |  | — |  | 132 |
Selling and administrative expense | 99 |  | 51 |  | 29 |  | 70 |  | 4 |  | 2 |  | 255 |
Interest expense, net | — |  | — |  | — |  | — |  | — |  | 4 |  | 4 |
Segment profit (loss) | $ | 127 |  | $ | 90 |  | $ | 40 |  | $ | 30 |  | $ | (17) |  | $ | 10 |  | $ | 280 |
Three months ended March 30, 2024 |  |  |  |  |  |  |
Revenues | $ | 1,188 |  | $ | 727 |  | $ | 306 |  | $ | 892 |  | $ | 7 |  | $ | 15 |  | $ | 3,135 |
Costs and expenses: |  |  |  |  |  |  |
Cost of sales | 891 |  | 565 |  | 222 |  | 758 |  | 6 |  | — |  | 2,442 |
Research and development costs | 52 |  | 39 |  | 18 |  | 20 |  | 15 |  | — |  | 144 |
Selling and administrative expense | 102 |  | 43 |  | 28 |  | 85 |  | 4 |  | (8) |  | 254 |
Interest expense, net | — |  | — |  | — |  | — |  | — |  | 5 |  | 5 |
Segment profit (loss) | $ | 143 |  | $ | 80 |  | $ | 38 |  | $ | 29 |  | $ | (18) |  | $ | 18 |  | $ | 290 |
A reconciliation of segment profit to income before income taxes, is presented below:
|  |  |  |  | Three Months Ended
(In millions) |  |  |  |  |  | March 29, 2025 | March 30, 2024
Segment profit |  |  |  |  |  | $ | 280 |  | $ | 290 |
Unallocated amounts: |  |  |  |  |  |  |
Corporate expenses and other, net |  |  |  |  |  | (43) |  | (62) |
Interest expense, net for Manufacturing group |  |  |  |  |  | (25) |  | (15) |
LIFO inventory provision |  |  |  |  |  | (29) |  | (20) |
Intangible asset amortization |  |  |  |  |  | (8) |  | (8) |
Special charges |  |  |  |  |  | — |  | (14) |
Non-service components of pension and postretirement income, net |  |  |  |  |  | 66 |  | 66 |
Income before income taxes |  |  |  |  |  | $ | 241 |  | $ | 237 |
Other information by segment is provided below:
|  |  | Capital Expenditures |  |  | Depreciation and Amortization
|  | Three Months Ended |  | Three Months Ended
(In millions) |  |  | March 29, 2025 | March 30, 2024 |  |  | March 29, 2025 | March 30, 2024
Textron Aviation |  |  | $ | 25 |  | $ | 27 |  |  |  | $ | 37 |  | $ | 36 |
Bell |  |  | 15 |  | 19 |  |  |  | 22 |  | 19 |
Textron Systems |  |  | 5 |  | 8 |  |  |  | 12 |  | 11 |
Industrial |  |  | 10 |  | 11 |  |  |  | 17 |  | 18 |
Textron eAviation |  |  | 1 |  | 1 |  |  |  | 2 |  | 2 |
Corporate |  |  | — |  | — |  |  |  | 2 |  | 2 |
Total |  |  | $ | 56 |  | $ | 66 |  |  |  | $ | 92 |  | $ | 88 |
Our assets by segment are summarized below:
(In millions) |  |  |  |  |  | March 29, 2025 | December 28, 2024
Textron Aviation |  |  |  |  |  | $ | 4,795 |  | $ | 4,624 |
Bell |  |  |  |  |  | 3,073 |  | 2,992 |
Textron Systems |  |  |  |  |  | 2,045 |  | 2,036 |
Industrial |  |  |  |  |  | 2,413 |  | 2,378 |
Textron eAviation |  |  |  |  |  | 294 |  | 286 |
Finance |  |  |  |  |  | 679 |  | 680 |
Corporate |  |  |  |  |  | 3,643 |  | 3,842 |
Total assets |  |  |  |  |  | $ | 16,942 |  | $ | 16,838 |

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