Revenues

3 Months Ended

Apr. 04, 2020

Revenues

Revenues

Note 12. Revenues

Disaggregation of Revenues

Our revenues disaggregated by major product type are presented below:

	Three Months Ended
	April 4,		March 30,
(In millions)	2020		2019
Aircraft	$	515	$	766
Aftermarket parts and services		357		368
Textron Aviation		872		1,134
Military aircraft and support programs		620		508
Commercial helicopters, parts and services		203		231
Bell		823		739
Unmanned systems		148		134
Marine and land systems		48		48
Simulation, training and other		132		125
Textron Systems		328		307
Fuel systems and functional components		465		594
Specialized vehicles		275		318
Industrial		740		912
Finance		14		17
Total revenues	$	2,777	$	3,109

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

(In millions)	Textron Aviation		Bell		Textron Systems		Industrial		Finance		Total
Three months ended April 4, 2020
Customer type:
Commercial	$	848	$	198	$	71	$	739	$	14	$	1,870
U.S. Government		24		625		257		1		—		907
Total revenues	$	872	$	823	$	328	$	740	$	14	$	2,777
Geographic location:
United States	$	597	$	690	$	286	$	329	$	6	$	1,908
Europe		84		24		12		228		1		349
Asia and Australia		123		50		20		53		1		247
Other international		68		59		10		130		6		273
Total revenues	$	872	$	823	$	328	$	740	$	14	$	2,777
Three months ended March 30, 2019
Customer type:
Commercial	$	1,092	$	230	$	74	$	905	$	17	$	2,318
U.S. Government		42		509		233		7		—		791
Total revenues	$	1,134	$	739	$	307	$	912	$	17	$	3,109
Geographic location:
United States	$	789	$	578	$	257	$	389	$	8	$	2,021
Europe		183		20		23		311		1		538
Asia and Australia		23		82		16		77		1		199
Other international		139		59		11		135		7		351
Total revenues	$	1,134	$	739	$	307	$	912	$	17	$	3,109

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 April 4, 2020, we had $9.2 billion in remaining performance obligations of which we expect to recognize revenues of approximately 72% through 2021, an additional 21% 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 April 4, 2020 and January 4, 2020, contract assets totaled $565 million and $567 million, respectively, and contract liabilities totaled $930 million and $830 million, respectively, reflecting timing differences between revenue recognized, billings and payments from customers. During the first quarter of 2020 and 2019, we recognized revenues of $231 million and $311 million, respectively, that were included in the contract liability balance at the beginning of each year.