Revenues

12 Months Ended

Dec. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Disaggregation of Revenues

Our revenues disaggregated by major product type are presented below:

(In millions)	2023		2022		2021
Aircraft	$	3,577	$	3,387	$	3,116
Aftermarket parts and services	1,796		1,686		1,450
Textron Aviation	$	5,373	$	5,073	$	4,566
Military aircraft and support programs	1,701		1,740		2,073
Commercial helicopters, parts and services	1,446		1,351		1,291
Bell	$	3,147	$	3,091	$	3,364
Textron Systems	$	1,235	$	1,172	$	1,273
Fuel systems and functional components	1,954		1,771		1,735
Specialized vehicles	1,887		1,694		1,395
Industrial	$	3,841	$	3,465	$	3,130
Textron eAviation	$	32	$	16	$	—
Finance	$	55	$	52	$	49
Total revenues	$	13,683	$	12,869	$	12,382

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

(In millions)	Textron Aviation		Bell		Textron Systems		Industrial		Textron eAviation		Finance		Total
2023
Customer type:
Commercial	$	5,155	$	1,407	$	282	$	3,819	$	32	$	55	$	10,750
U.S. Government	218		1,740		953		22		—		—		2,933
Total revenues	$	5,373	$	3,147	$	1,235	$	3,841	$	32	$	55	$	13,683
Geographic location:
United States	$	3,873	$	2,228	$	1,103	$	2,067	$	17	$	17	$	9,305
Europe	432		149		54		766		11		2		1,414
Other international	1,068		770		78		1,008		4		36		2,964
Total revenues	$	5,373	$	3,147	$	1,235	$	3,841	$	32	$	55	$	13,683
2022
Customer type:
Commercial	$	4,959	$	1,284	$	274	$	3,450	$	16	$	52	$	10,035
U.S. Government	114		1,807		898		15		—		—		2,834
Total revenues	$	5,073	$	3,091	$	1,172	$	3,465	$	16	$	52	$	12,869
Geographic location:
United States	$	3,520	$	2,242	$	1,054	$	1,862	$	7	$	17	$	8,702
Europe	579		139		42		699		6		3		1,468
Other international	974		710		76		904		3		32		2,699
Total revenues	$	5,073	$	3,091	$	1,172	$	3,465	$	16	$	52	$	12,869
2021
Customer type:
Commercial	$	4,435	$	1,328	$	257	$	3,113	$	—	$	49	$	9,182
U.S. Government	131		2,036		1,016		17		—		—		3,200
Total revenues	$	4,566	$	3,364	$	1,273	$	3,130	$	—	$	49	$	12,382
Geographic location:
United States	$	3,424	$	2,425	$	1,126	$	1,570	$	—	$	27	$	8,572
Europe	396		171		44		757		—		1		1,369
Other international	746		768		103		803		—		21		2,441
Total revenues	$	4,566	$	3,364	$	1,273	$	3,130	$	—	$	49	$	12,382

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 revenue 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 December 30, 2023, we had $13.9 billion in remaining performance obligations of which we expect to recognize revenues of approximately 86% through 2025, an additional 12% through 2027, 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 December 30, 2023 and December 31, 2022, contract assets totaled $513 million and $680 million, respectively, and contract liabilities totaled $1.8 billion and $1.5 billion, respectively, reflecting timing differences between revenues recognized, billings and payments from customers. During 2023, 2022 and 2021, we recognized revenues of $953 million, $873 million and $600 million, respectively, that were included in the contract liability balance at the beginning of each year.