Segment Information

6 Months Ended

Jun. 29, 2013

Segment Information

Segment Information

Note 12:  Segment Information

We operate in, and report financial information for, the following five business segments: Cessna, Bell, Textron Systems, Industrial and Finance.  Segment profit is an important measure used for evaluating performance and for decision-making purposes.  Segment profit for the manufacturing segments excludes interest expense and certain corporate expenses.  The measurement for the Finance segment includes interest income and expense along with intercompany interest expense.  Provisions for losses on finance receivables involving the sale or lease of our products are recorded by the selling manufacturing division when our Finance group has recourse to the Manufacturing group.

Our revenues by segment and a reconciliation of segment profit to income from continuing operations before income taxes are as follows:

	Three Months Ended						Six Months Ended
(In millions)	June 29, 2013			June 30, 2012			June 29, 2013			June 30, 2012
REVENUES
Manufacturing Group
Cessna	$	560		$	763		$	1,268		$	1,432
Bell	1,025			1,056			1,974			2,050
Textron Systems	422			389			851			766
Industrial	801			756			1,528			1,511
	2,808			2,964			5,621			5,759
Finance Group	31			55			73			116
Total revenues	$	2,839		$	3,019		$	5,694		$	5,875
SEGMENT OPERATING PROFIT
Manufacturing Group
Cessna	$	(50	)	$	35		$	(58	)	$	29
Bell	135			152			264			297
Textron Systems	34			40			72			75
Industrial	79			61			136			134
	198			288			414			535
Finance Group	15			22			34			34
Segment profit	213			310			448			569
Corporate expenses and other, net	(20		)	(20		)	(75		)	(67		)
Interest expense, net for Manufacturing group	(30		)	(35		)	(67		)	(70		)
Income from continuing operations before income taxes	$	163		$	255		$	306		$	432