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Financial Table of Contents
18 Textron Annual Report
Business Segment Data
Automotive $2,601
Aircraft $4,664
Industrial Products $2,668
Finance $709
38%
21%
Fastening Systems $1,679
13%
22%
6%
Automotive $158
Aircraft $311
Industrial Products $120
Finance $193
38%
19%
Fastening Systems $46
6%
14%
23%
2001 Revenues 2001 Segment Profit
18 BUSINESS SEGMENT DATA
19 MANAGEMENT’S DISCUSSION AND ANALYSIS
33 REPORT OF M ANAGEMENT, REPORT OF INDEPENDENT AUDITORS
34 CONSOLIDATED FINANCIAL STATEMENTS
39 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
60 QUARTERLY DATA
61 SELECTED FINANCIAL INFORM ATION
62 TEXTRON LEADERSHIP
64 TEXTRON BUSINESS DIRECTORY
66 SHAREHOLDER INFORMATION
Segment
Revenues Segment Profit*Profit M argins
(In millions) 2001 2000 1999 2001 2000 1999 2001 2000 1999
Aircraft $4,664 $4,394 $ 4,019 $311 $451 $ 362 6.7)%10.3)%9.0)%
Automotive 2,601 2,924 2,868 158 244 220 6.1 8.3 7.7
Fastening Systems 1,679 1,996 2,059 46 175 188 2.7 8.8 9.1
Industrial Products 2,668 3,085 2,445 120 350 303 4.5 11.3 12.4
Finance 709 691 463 193 190 128 27.2 27.5 27.6
$12,321 $13,090 $ 11,854 828 1,410 1,201 6.7)%10.8)% 10.1)%
Special charges, net* * * (437) (483) 1
Segment operating income 391 927 1,202
Gains on sale of divisions 342 ––
Corporate expenses and other, net (152) (164) (143)
Interest expense, net (162) (152) (29)
Income from continuing operations
before income taxes* * $419 $611 $ 1,030
* * *Segment profit represents a measurement used by Textron to evaluate operating performance. Segment profit for manufacturing seg-
ments does not include interest, certain corporate expenses, special charges and gains and losses from the disposition of significant
business units. The measurement for the Finance segment includes interest income, interest expense and distributions on preferred
securities of Finance subsidiary trust, and excludes special charges.
** * Before distributions on preferred securities of manufacturing subsidiary trust.
***Special charges, net includes goodw ill, intangible asset and investment portfolio impairment w rite-dow ns and restructuring expenses.
In 2001, special charges totaled $351 million in Industrial Products, $45 million in Fastening Systems, $17 million in Automotive,
$5 million in Aircraft, $3 million in Finance and $16 million in Corporate. In 2000, special charges totaled $209 million in Industrial
Products, $128 million in Fastening Systems, $29 million in Automotive and $117 million in Corporate.