E-Z-GO 2002 Annual Report Download - page 20

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18
Segment
(In millions) Revenues Segment Profit* Profit Margins
2002 2001 2000 2002 2001 2000 2002 2001 2000
Aircraft $ 4,922 $ 4,797 $ 4,537 $ 452 $ 338 $ 475 9.2% 7.0% 10.5%
Fastening Systems 1,650 1,679 1,996 68 62 192 4.1 3.7 9.6
Industrial Products 1,841 1,974 2,248 83 106 296 4.5 5.4 13.2
Industrial Components 1,615 3,162 3,618 115 215 341 7.1 6.8 9.4
Finance 630 709 691 117 205 202 18.6 28.9 29.2
$10,658 $12,321 $13,090 $ 835 $ 926 $1,506 7.8% 7.5% 11.5%
Special charges** (128) (437) (483)
Segment operating income 707 489 1,023
Gain on sale of businesses, net 5 342 —
Goodwill amortization — (98) (96)
Corporate expenses and other, net (114) (152) (164)
Interest expense, net (108) (162) (152)
Income before income taxes and distribution
on preferred securities $ 490 $ 419 $ 611
* Segment profit represents the measurement used by Textron to evaluate performance for decision making purposes. Segment profit
for manufacturing segments does not include interest expense, certain corporate expenses, goodwill amortization, 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 and
goodwill amortization.
** Special charges includes goodwill, other intangible asset and investment impairment write-downs and restructuring expenses. In
2002, special charges totaled $34 million in Industrial Products, $28 million in Aircraft, $18 million in Fastening Systems, $9 million in
Industrial Components and $39 million in Corporate. In 2001, special charges totaled $337 million in Industrial Products, $44 million in
Fastening Systems, $31 million in Industrial Components, $6 million in Aircraft, $3 million in Finance and $16 million in Corporate. In
2000, special charges totaled $214 million in Industrial Components, $128 million in Fastening Systems, $24 million in Industrial Prod-
ucts and $117 million in Corporate.
Financial Table of Contents
18 Business Segment Data
19 Management’s Discussion and Analysis
35 Report of Management, Report of Independent Auditors
36 Consolidated Financial Statements
41 Notes to Consolidated Financial Statements
68 Quarterly Data
69 Selected Financial Information
70 Textron Leadership
72 Shareholder Information
Business Segment Data
Finance $630 6%
Industrial Products $1,841 17%
Aircraft $4,922 46%
Fastening Systems $1,650 16%
Industrial Components $1,615 15%
2002 Revenues
Finance $117 14%
Industrial Products $83 10%
Aircraft $452 54%
Fastening Systems $68 8%
Industrial Components $115 14%
2002 Segment Profit