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v3.25.2

Segment Financial Information (Tables) | 6 Months Ended
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Jun. 28, 2025
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
Three months ended June 28, 2025 |  |  |  |  |  |  |
Revenues | $ | 1,517 |  | $ | 1,016 |  | $ | 321 |  | $ | 839 |  | $ | 8 |  | $ | 15 |  | $ | 3,716 |
Costs and expenses: |  |  |  |  |  |  |
Cost of sales | 1,171 |  | 841 |  | 244 |  | 698 |  | 7 |  | — |  | 2,961 |
Research and development costs | 53 |  | 38 |  | 15 |  | 20 |  | 11 |  | — |  | 137 |
Selling and administrative expense | 113 |  | 57 |  | 22 |  | 67 |  | 6 |  | 2 |  | 267 |
Interest expense, net | — |  | — |  | — |  | — |  | — |  | 5 |  | 5 |
Segment profit (loss) | $ | 180 |  | $ | 80 |  | $ | 40 |  | $ | 54 |  | $ | (16) |  | $ | 8 |  | $ | 346 |
Three months ended June 29, 2024 |  |  |  |  |  |  |
Revenues | $ | 1,475 |  | $ | 794 |  | $ | 323 |  | $ | 914 |  | $ | 9 |  | $ | 12 |  | $ | 3,527 |
Costs and expenses: |  |  |  |  |  |  |
Cost of sales | 1,119 |  | 649 |  | 246 |  | 775 |  | 9 |  | — |  | 2,798 |
Research and development costs | 51 |  | 7 |  | 15 |  | 18 |  | 14 |  | — |  | 105 |
Selling and administrative expense | 110 |  | 56 |  | 27 |  | 79 |  | 4 |  | — |  | 276 |
Interest expense, net | — |  | — |  | — |  | — |  | — |  | 5 |  | 5 |
Segment profit (loss) | $ | 195 |  | $ | 82 |  | $ | 35 |  | $ | 42 |  | $ | (18) |  | $ | 7 |  | $ | 343 |
Six months ended June 28, 2025 |  |  |  |  |  |  |
Revenues | $ | 2,729 |  | $ | 1,999 |  | $ | 617 |  | $ | 1,631 |  | $ | 15 |  | $ | 31 |  | $ | 7,022 |
Costs and expenses: |  |  |  |  |  |  |
Cost of sales | 2,100 |  | 1,644 |  | 463 |  | 1,376 |  | 13 |  | — |  | 5,596 |
Research and development costs | 110 |  | 77 |  | 23 |  | 34 |  | 25 |  | — |  | 269 |
Selling and administrative expense | 212 |  | 108 |  | 51 |  | 137 |  | 10 |  | 4 |  | 522 |
Interest expense, net | — |  | — |  | — |  | — |  | — |  | 9 |  | 9 |
Segment profit (loss) | $ | 307 |  | $ | 170 |  | $ | 80 |  | $ | 84 |  | $ | (33) |  | $ | 18 |  | $ | 626 |
Six months ended June 29, 2024 |  |  |  |  |  |  |
Revenues | $ | 2,663 |  | $ | 1,521 |  | $ | 629 |  | $ | 1,806 |  | $ | 16 |  | $ | 27 |  | $ | 6,662 |
Costs and expenses: |  |  |  |  |  |  |
Cost of sales | 2,010 |  | 1,214 |  | 468 |  | 1,533 |  | 15 |  | — |  | 5,240 |
Research and development costs | 103 |  | 46 |  | 33 |  | 38 |  | 29 |  | — |  | 249 |
Selling and administrative expense | 212 |  | 99 |  | 55 |  | 164 |  | 8 |  | (8) |  | 530 |
Interest expense, net | — |  | — |  | — |  | — |  | — |  | 10 |  | 10 |
Segment profit (loss) | $ | 338 |  | $ | 162 |  | $ | 73 |  | $ | 71 |  | $ | (36) |  | $ | 25 |  | $ | 633 |
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:
| Three Months Ended | Six Months Ended
(In millions) | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024
Segment profit | $ | 346 |  | $ | 343 |  | $ | 626 |  | $ | 633 |
Unallocated amounts: |  |  |  |
Corporate expenses and other, net | (36) |  | (17) |  | (79) |  | (79) |
Interest expense, net for Manufacturing group | (26) |  | (20) |  | (51) |  | (35) |
LIFO inventory provision | (38) |  | (27) |  | (67) |  | (47) |
Intangible asset amortization | (8) |  | (9) |  | (16) |  | (17) |
Special charges | (4) |  | (13) |  | (4) |  | (27) |
Non-service components of pension and postretirement income, net | 67 |  | 66 |  | 133 |  | 132 |
Income from continuing operations before income taxes | $ | 301 |  | $ | 323 |  | $ | 542 |  | $ | 560 |
Other Information by Segment | Other information by segment is provided below:
| Capital Expenditures | Depreciation and Amortization
| Three Months Ended | Six Months Ended | Three Months Ended | Six Months Ended
(In millions) | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024 | June 28, 2025 | June 29, 2024
Textron Aviation | $ | 37 |  | $ | 34 |  | $ | 62 |  | $ | 61 |  | $ | 40 |  | $ | 37 |  | $ | 77 |  | $ | 73 |
Bell | 18 |  | 18 |  | 33 |  | 37 |  | 28 |  | 20 |  | 50 |  | 39 |
Textron Systems | 8 |  | 7 |  | 13 |  | 15 |  | 12 |  | 12 |  | 24 |  | 23 |
Industrial | 15 |  | 14 |  | 25 |  | 25 |  | 17 |  | 17 |  | 34 |  | 35 |
Textron eAviation | — |  | 1 |  | 1 |  | 2 |  | 2 |  | 2 |  | 4 |  | 4 |
Corporate | — |  | — |  | — |  | — |  | 1 |  | 2 |  | 3 |  | 4 |
Total | $ | 78 |  | $ | 74 |  | $ | 134 |  | $ | 140 |  | $ | 100 |  | $ | 90 |  | $ | 192 |  | $ | 178 |
Our assets by segment are summarized below:
(In millions) |  |  |  |  |  | June 28, 2025 | December 28, 2024
Textron Aviation |  |  |  |  |  | $ | 4,823 |  | $ | 4,624 |
Bell |  |  |  |  |  | 3,062 |  | 2,992 |
Textron Systems |  |  |  |  |  | 2,044 |  | 2,036 |
Industrial |  |  |  |  |  | 2,391 |  | 2,378 |
Textron eAviation |  |  |  |  |  | 317 |  | 286 |
Finance |  |  |  |  |  | 684 |  | 680 |
Corporate |  |  |  |  |  | 3,755 |  | 3,842 |
Total assets |  |  |  |  |  | $ | 17,076 |  | $ | 16,838 |

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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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