Revenues

9 Months Ended

Oct. 03, 2020

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Disaggregation of Revenues

Our revenues disaggregated by major product type are presented below:

​	Three Months Ended				Nine Months Ended
(In millions)	October 3, 2020		September 28, 2019		October 3, 2020		September 28, 2019
Aircraft	$	486	$	797	$	1,479	$	2,296
Aftermarket parts and services	309		404		935		1,162
Textron Aviation	795		1,201		2,414		3,458
Military aircraft and support programs	515		473		1,737		1,463
Commercial helicopters, parts and services	278		310		701		830
Bell	793		783		2,438		2,293
Unmanned systems	156		147		473		416
Marine and land systems	36		47		127		155
Simulation, training and other	110		117		356		355
Textron Systems	302		311		956		926
Fuel systems and functional components	497		521		1,233		1,707
Specialized vehicles	335		429		901		1,164
Industrial	832		950		2,134		2,871
Finance	13		14		42		47
Total revenues	$	2,735	$	3,259	$	7,984	$	9,595

Our revenues for our segments by customer type and geographic location are presented below:

	Textron				Textron
(In millions)	Aviation		Bell		Systems		Industrial		Finance		Total
Three months ended October 3, 2020	​		​		​		​		​		​
Customer type:	​		​		​		​		​		​
Commercial	$	758	$	273	$	54	$	830	$	13	$	1,928
U.S. Government	37		520		248		2		—		807
Total revenues	$	795	$	793	$	302	$	832	$	13	$	2,735
Geographic location:
United States	$	562	$	608	$	263	$	401	$	7	$	1,841
Europe	65		43		10		203		—		321
Asia and Australia	68		67		15		92		—		242
Other international	100		75		14		136		6		331
Total revenues	$	795	$	793	$	302	$	832	$	13	$	2,735
Three months ended September 28, 2019
Customer type:
Commercial	$	1,153	$	306	$	73	$	947	$	14	$	2,493
U.S. Government	48		477		238		3		—		766
Total revenues	$	1,201	$	783	$	311	$	950	$	14	$	3,259
Geographic location:
United States	$	836	$	583	$	247	$	454	$	8	$	2,128
Europe	154		41		11		236		1		443
Asia and Australia	80		68		37		93		—		278
Other international	131		91		16		167		5		410
Total revenues	$	1,201	$	783	$	311	$	950	$	14	$	3,259
Nine months ended October 3, 2020
Customer type:
Commercial	$	2,322	$	687	$	182	$	2,128	$	42	$	5,361
U.S. Government	92		1,751		774		6		—		2,623
Total revenues	$	2,414	$	2,438	$	956	$	2,134	$	42	$	7,984
Geographic location:
United States	1,677		1,979		825		1,017		21		5,519
Europe	219		88		33		558		1		899
Asia and Australia	241		183		50		221		1		696
Other international	277		188		48		338		19		870
Total revenues	$	2,414	$	2,438	$	956	$	2,134	$	42	$	7,984
Nine months ended September 28, 2019
Customer type:
Commercial	$	3,322	$	815	$	230	$	2,856	$	47	$	7,270
U.S. Government	136		1,478		696		15		—		2,325
Total revenues	$	3,458	$	2,293	$	926	$	2,871	$	47	$	9,595
Geographic location:
United States	$	2,361	$	1,732	$	753	$	1,309	$	23	$	6,178
Europe	501		108		51		838		2		1,500
Asia and Australia	168		229		66		254		3		720
Other international	428		224		56		470		19		1,197
Total revenues	$	3,458	$	2,293	$	926	$	2,871	$	47	$	9,595

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 October 3, 2020, we had $9.4 billion in remaining performance obligations of which we expect to recognize revenues of approximately 65% through 2021, an additional 27% through 2023, 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 October 3, 2020 and January 4, 2020, contract assets totaled $546 million and $567 million, respectively, and contract liabilities totaled $965 million and $830 million, respectively, reflecting timing differences between revenue recognized, billings and payments from customers. During the third quarter and first nine months of 2020, we recognized revenues of $44 million and $396 million, respectively, that were included in the contract liability balance at January 4, 2020. We recognized revenues of $54 million and $511 million in the third quarter and first nine months of 2019, respectively, that were included in the contract liability balance at December 29, 2018.