E-Z-GO 2000 Annual Report Download - page 59

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Textron has five reportable segments: Aircraft, Automotive, Fastening Systems, Industrial Products and
Finance. See Note 1, for principal markets and pages 61 through 63 for products of Textron’s segments.
Textron’s reportable segments are strategically aligned based on the manner in which Textron man-
ages its various operations. The accounting policies of the segments are the same as those described
in the summary of significant accounting policies within the notes to the consolidated financial state-
ments. Textron evaluates segment performance based on operating profit from operations. Segment
profit for Textron Manufacturing excludes interest expense, certain corporate expenses, special charges,
and gains or losses from the disposition of significant business units. The Finance segment includes
interest income, interest expense and distributions on preferred securities of Finance subsidiary trust
as part of segment profit. Provisions for losses on finance receivables involving the sale or lease of
Textron products are recorded by the selling manufacturing division.
The following summarizes the revenues by type of products:
Revenues
(In millions) 2000 1999 1998
Aircraft:
Fixed-Wing Aircraft $ 2,814 $ 2,472 $1,949
Rotor Aircraft 1,580 1,547 1,431
Automotive:
Trim 1,842 1,796 1,481
Fuel Systems and Functional Components 1,082 1,072 875
Fastening Systems 2,137 2,082 1,758
Industrial Products:
Industrial Components and Other 1,432 997 931
Golf, Turf & Specialty Products 823 773 719
Fluid & Power 689 652 363
Finance 691 463 367
$13,090 $11,854 $9,874
The following tables and page 20 summarize selected financial information by segment:
Property, Plant and
Assets Equipment Expenditures
(In millions) 2000 1999 1998 2000 1999 1998
Aircraft $ 2,551 $ 2,348 $ 2,199 $154 $164 $140
Automotive 1,738 1,800 1,627 127 132 110
Fastening Systems 2,029 2,199 1,760 113 103 113
Industrial Products 2,728 3,003 2,176 115 114 9 6
Finance 6,131 5,989 3,785 14 11 13
Corporate (including investment
in discontinued operations) 3,339 1,743 2,717 483
Eliminations (2,146) (689) (543) –––
$16,370 $16,393 $13,721 $527 $532 $475
Amortization Depreciation
(In millions) 2000 1999 1998 2000 1999 1998
Aircraft $ 10 $10 $10 $105 $ 97 $ 82
Automotive 14 19 15 87 83 71
Fastening Systems 22 19 13 85 80 70
Industrial Products 41 31 23 84 73 55
Finance 15 73 17 12 10
Corporate 10 55 444
$112 $91 $69 $382 $349 $292
Segment Reporting20
57 TEXTRON 2000 ANNUAL REPORT