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Segment Information
6 Months Ended
Jul. 02, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
Through the first quarter of 2022, we operated in, and reported financial information for, the following five business segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. Beginning in the second quarter of 2022, we formed a new reporting segment within the Manufacturing group, Textron eAviation, which includes the operating results of Pipistrel, a manufacturer of electrically powered aircraft that we acquired on April 15, 2022, as discussed in Note 2, along with other research and development initiatives related to sustainable aviation solutions. Segment profit is an important measure used for evaluating performance and for decision-making purposes. Segment profit for the manufacturing segments excludes interest expense, 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 by segment, along with a reconciliation of segment profit to income from continuing operations before income taxes, are included in the table below:
Three Months EndedSix Months Ended
(In millions)July 2,
2022
July 3,
2021
July 2,
2022
July 3,
2021
Revenues
Textron Aviation$1,284 $1,161 $2,324 $2,026 
Bell687 891 1,521 1,737 
Textron Systems293 333 566 661 
Industrial871 794 1,709 1,619 
Textron eAviation— — 
Finance14 12 30 27 
Total revenues$3,154 $3,191 $6,155 $6,070 
Segment Profit
Textron Aviation$155 $96 $276 $143 
Bell63 110 161 215 
Textron Systems42 48 75 99 
Industrial41 32 84 79 
Textron eAviation(8)— (8)— 
Finance10 19 
Segment profit303 289 607 545 
Corporate expenses and other, net(12)(37)(56)(77)
Interest expense, net for Manufacturing group(28)(32)(56)(67)
Special charges— (4)— (10)
Gain on business disposition— — 17 
Income from continuing operations before income taxes$263 $218 $495 $408