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Segments
 12 Months Ended
Sep. 27, 2025
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Segments Segments
Space and Defense. We manufacture critical defense components and motion-control systems used in defense vehicle platforms, missile systems, naval ships and submarines. We also manufacture high-performance components and systems used for space launch vehicles, satellites and spacecraft vehicles.
Military Aircraft. We design, manufacture and integrate primary and secondary flight controls, mission-critical actuation systems, and products for various military fixed-wing aircraft and rotorcraft for both OEM and aftermarket customers.
Our military production programs include the F-35 Joint Strike Fighter and we are currently working on the development of the Textron Bell MV-75 and other classified funded development military programs.
Aftermarket sales, which represented 23%, 23% and 26% of 2025, 2024 and 2023 sales, respectively, consist of the maintenance, upgrades, spares, repairs and overhauls for military depots and existing fleets.
Commercial Aircraft. We design, manufacture and integrate primary and secondary flight-critical control systems and products for various commercial aircraft including widebody, narrowbody, business jets and regional jets for both OEM and aftermarket customers.
Our large commercial production programs include the Boeing 787 and the Airbus A350 programs. Our additional production programs include the Boeing 737 MAX, the Airbus A320 and A330, the Embraer E195-E2 and various Gulfstream business jets.
Aftermarket sales, which represented 37%, 33% and 34% of 2025, 2024 and 2023 sales, respectively, consist of support for the maintenance, upgrades, spares, repairs and overhauls for aircraft operators worldwide.
Industrial. We provide customized, high-performance motion control components and systems for industrial automation, medical, simulation and test and energy applications.
Our offerings include precision components used in heavy machinery, medical devices and components, power generation products, as well as simulation platforms for flight training and material testing applications.
Disaggregation of net sales by segment are as follows:
Market Type202520242023
Net sales:
Space$474,517 $434,936 $407,009 
Defense638,511 583,212 540,242 
Space and Defense1,113,028 1,018,148 947,251 
Original Equipment Manufacturers
687,261 624,575 536,562 
Aftermarket200,875 186,991 183,770 
Military Aircraft888,136 811,566 720,332 
Original Equipment Manufacturers
572,971 524,699 431,521 
Aftermarket330,908 263,401 234,362 
Commercial Aircraft903,879 788,100 665,883 
Energy141,679 137,854 123,864 
Industrial Automation401,697 443,580 485,502 
Simulation and Test141,551 155,889 124,980 
Medical270,654 253,823 248,378 
Industrial955,581 991,146 982,724 
Net sales$3,860,624 $3,608,960 $3,316,190 
Customer Type202520242023
Net sales:
Commercial$187,528 $172,829 $112,777 
U.S. Government (including OEM)798,956 754,057 778,229 
Other126,544 91,262 56,245 
Space and Defense1,113,028 1,018,148 947,251 
U.S. Government (including OEM)657,813 582,688 505,794 
Other230,323 228,878 214,538 
Military Aircraft
888,136 811,566 720,332 
Commercial853,045 751,110 632,878 
Other50,834 36,990 33,005 
Commercial Aircraft
903,879 788,100 665,883 
Commercial933,664 971,868 965,867 
U.S. Government (including OEM)4,648 10,438 5,204 
Other17,269 8,840 11,653 
Industrial955,581 991,146 982,724 
Commercial1,974,237 1,895,807 1,711,522 
U.S. Government (including OEM)1,461,417 1,347,183 1,289,227 
Other424,970 365,970 315,441 
Net sales$3,860,624 $3,608,960 $3,316,190 
Revenue Recognition Method202520242023
Net sales:
Over-time$997,351 $909,638 $883,727 
Point in time115,677 108,510 63,524 
Space and Defense1,113,028 1,018,148 947,251 
Over-time732,837 656,576 602,333 
Point in time155,299 154,990 117,999 
Military Aircraft888,136 811,566 720,332 
Over-time636,760 587,233 497,221 
Point in time267,119 200,867 168,662 
Commercial Aircraft903,879 788,100 665,883 
Over-time114,699 142,425 137,338 
Point in time840,882 848,721 845,386 
Industrial955,581 991,146 982,724 
Over-time2,481,647 2,295,872 2,120,619 
Point in time1,378,977 1,313,088 1,195,571 
Net sales$3,860,624 $3,608,960 $3,316,190 
Sales to Boeing were $396,784, $417,275 and $349,961, or 10%, 12% and 11% of sales, in 2025, 2024 and 2023, respectively. Sales arising from U.S. Government prime or sub-contracts, including military sales to Boeing are made primarily from our Military Aircraft and Space and Defense segments and are included in the Customer Type table above.
The Company’s Chief Operating Decision Maker (“CODM”) is the President and Chief Executive Officer. The CODM is responsible for allocating resources and assessing performance based on the segment’s operating profit or loss, among other considerations. Segment operating profit is net sales less cost of sales and other operating expenses, excluding interest expense, equity-based compensation, non-service pension expense and other corporate expenses. Cost of sales and other operating expenses are directly attributable to the respective segment or allocated on the basis of sales, headcount or profit.
We report results to our CODM under our four segments identified as Space and Defense, Military Aircraft, Commercial Aircraft and Industrial. Disaggregation of operating results by segment and reconciliations to consolidated amounts are as follows:
Fiscal Year Ended
(dollars in thousands)September 27, 2025September 28, 2024September 30, 2023
Net sales:
Space and Defense$1,113,028 $1,018,148 $947,251 
Military Aircraft888,136 811,566 720,332 
Commercial Aircraft903,879 788,100 665,883 
Industrial955,581 991,146 982,724 
Total net sales$3,860,624 $3,608,960 $3,316,190 
Cost of sales:
Space and Defense$800,982 $734,844 $718,545 
Military Aircraft656,054 604,285 552,268 
Commercial Aircraft720,296 617,858 505,884 
Industrial617,470 632,538 637,393 
Total cost of sales$2,794,802 $2,589,525 $2,414,090 
Inventory write-down:
Space and Defense$939 $1,918 $— 
Military Aircraft1,625 175 1,616 
Commercial Aircraft— — — 
Industrial5,910 4,934 2,729 
Total inventory write-down$8,474 $7,027 $4,345 
Research and development:
Space and Defense$25,511 $26,084 $16,736 
Military Aircraft24,549 23,475 33,941 
Commercial Aircraft7,798 11,930 9,485 
Industrial35,813 51,284 46,389 
Total research and development$93,671 $112,773 $106,551 
Selling, general and administrative:
Space and Defense$152,820 $122,568 $112,426 
Military Aircraft108,902 89,779 70,882 
Commercial Aircraft65,605 59,170 65,700 
Industrial176,363 182,005 189,511 
Selling, general and administrative for reportable segments$503,690 $453,522 $438,519 
Corporate expenses33,570 32,772 25,836 
Equity based compensation expense16,708 14,959 10,582 
Total selling, general and administrative$553,968 $501,253 $474,937 
Other operating (income) expenses:
Space and Defense$1,639 $5,849 $3,437 
Military Aircraft(1,751)8,349 1,000 
Commercial Aircraft(1,613)265 (1,223)
Industrial12,106 27,185 5,433 
Total other operating expenses$10,381 $41,648 $8,647 
Other segment operating income and expenses include restructuring, asset impairments, fair value adjustments, gains or losses on business disposals, royalty income and miscellaneous income and expenses.
202520242023
Operating profit:
Space and Defense$131,137 $126,885 $96,107 
Military Aircraft98,757 85,503 60,625 
Commercial Aircraft111,793 98,877 86,037 
Industrial107,919 93,200 101,269 
Total operating profit449,606 404,465 344,038 
Deductions from operating profit:
Interest expense72,075 66,330 59,838 
Equity-based compensation expense16,708 14,959 10,582 
Pension settlement— — 12,542 
Non-service pension expense7,719 12,685 12,324 
Corporate and other expenses, net40,456 40,745 27,232 
Earnings before income taxes$312,648 $269,746 $221,520 
Depreciation and amortization:
Space and Defense$24,937 $21,895 $20,067 
Military Aircraft34,424 31,327 30,449 
Commercial Aircraft18,780 16,116 12,678 
Industrial25,420 26,482 25,897 
Corporate167 207 213 
Total depreciation and amortization$103,728 $96,027 $89,304 
Identifiable assets:
Space and Defense$1,213,618 $1,035,716 $1,011,724 
Military Aircraft1,041,046 961,056 866,590 
Commercial Aircraft1,052,419 953,053 779,949 
Industrial1,102,533 1,098,953 1,086,818 
Corporate16,439 28,869 23,266 
Total assets$4,426,055 $4,077,647 $3,768,347 
Capital expenditures:
Space and Defense$59,162 $47,170 $66,613 
Military Aircraft37,422 52,741 47,699 
Commercial Aircraft23,283 28,750 31,887 
Industrial24,787 23,290 30,949 
Corporate77 44 161 
Total capital expenditures$144,731 $151,995 $177,309 
Sales, based on the customer’s location, and property, plant and equipment by geographic area are as follows:
202520242023
Net sales:
United States$2,432,811 $2,319,352 $2,153,121 
Germany247,354 164,794 203,661 
Other1,180,459 1,124,814 959,408 
Net sales$3,860,624 $3,608,960 $3,316,190 
Property, plant and equipment, net:
United States$704,707 $636,828 $546,335 
United Kingdom138,168 128,363 126,059 
Other177,031 163,397 153,866 
Property, plant and equipment, net$1,019,906 $928,588 $826,260