E-Z-GO 2007 Annual Report Download - page 95

Download and view the complete annual report

Please find page 95 of the 2007 E-Z-GO annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

Notes to the Consolidated Financial Statements
74
Cessna products include Citation business jets, Caravan single engine turboprops, single engine piston aircraft, and aftermarket services sold to
a diverse base of corporate and individual buyers.
Industrial products and markets include the following:
• Kautex products include blow-molded fuel systems and other parts, windshield and headlamp washer systems, metal fuel fi llers, engine
camshafts and other parts that are marketed primarily to automobile original equipment manufacturers;
• Fluid & Power products include industrial and hydraulic pumps, mechanical transmission systems, gears and extrusion equipment marketed to
original equipment manufacturers, engineering contractors, governments, and the oil, gas, petrochemical, nuclear, mining and desalinization
industries;
• Greenlee products include powered equipment, electrical test and measurement instruments, hand and hydraulic powered tools, and electrical
and fi ber optic connectors, principally used in the electrical construction and maintenance, plumbing, wiring, telecommunications and data
communications industries; and
• E-Z-GO and Jacobsen products include golf cars, professional turf-maintenance equipment, and off-road, multipurpose utility and specialized
turf-care vehicles that are marketed primarily to golf courses, resort communities, municipalities, sporting venues, and commercial and
industrial users.
Finance provides secured commercial loans and leases primarily in North America to the asset-based lending, aviation, distribution fi nance, golf
fi nance, resort fi nance and structured capital markets.
Segment profi t is an important measure used for evaluating performance and for decision-making purposes. Segment profi t for the manufacturing
segments excludes interest expense, certain corporate expenses and special charges. The measurement for the Finance segment includes interest
income and expense and excludes special charges. Provisions for losses on fi nance receivables involving the sale or lease of our products are
recorded by the selling manufacturing division when our Finance group has recourse to the Manufacturing group.
Our revenues by segment, along with a reconciliation of segment profi t to income from continuing operations before income taxes, are as follows:
Revenues Segment Profi t
(In millions) 2007 2006 2005 2007 2006 2005
Bell $ 3,915 $ 3,408 $ 2,881 $ 335 $ 249 $ 368
Cessna 5,000 4,156 3,480 865 645 457
Industrial 3,435 3,128 3,054 218 163 150
Finance 875 798 628 222 210 171
$ 13,225 $ 11,490 $ 10,043 1,640 1,267 1,146
Special charges — — (118)
Corporate expenses and other, net (253) (202) (199)
Interest expense, net (87) (90) (90)
Income from continuing operations
before income taxes $ 1,300 $ 975 $ 739
Revenues by product type within each segment are summarized below:
Revenues
(In millions) 2007 2006 2005
Bell:
Rotor aircraft $ 2,581 $ 2,347 $ 2,075
Armored vehicles, advanced military systems and piston aircraft engines 1,334 1,061 806
Cessna: Fixed-wing aircraft 5,000 4,156 3,480
Industrial:
Fuel systems and functional components 1,723 1,542 1,523
Industrial and hydraulic pumps, gears and other 610 517 495
Powered tools, testing and measurement equipment and other 426 373 331
Golf and turf-care products 676 696 705
Finance 875 798 628
$ 13,225 $ 11,490 $ 10,043