E-Z-GO 2008 Annual Report Download - page 101

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88
Industrial products and markets include the following:
• Kautex products include blow-molded fuel systems, windshield and headlamp washer systems, metal fuel llers, engine camshafts and other
parts that are marketed primarily to automobile original equipment manufacturers;
• Greenlee products include powered equipment, electrical test and measurement instruments, hand and hydraulic powered tools, and
electrical and fiber 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 provided secured commercial loans and leases primarily in North America to the asset-based lending, aviation, distribution finance, golf
finance, resort finance and structured capital markets through December 22, 2008, when our Board of Directors approved a plan to exit all of the
commercial finance business, other than that portion of the business supporting customer purchases of products that we manufacture in its
Aviation, Distribution and Golf Finance divisions.
Segment profit is an important measure used for evaluating performance and for decision-making purposes. Segment profit 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 finance 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 profit to income from continuing operations before income taxes, are as follows:
Revenues Segment Profit
(In millions) 2008 2007 2006 2008 2007 2006
Cessna $ 5,662 $ 5,000 $ 4,156 $ 905 $ 865 $ 645
Bell 2,827 2,581 2,347 278 144 108
Textron Systems 2,116 1,334 1,061 279 191 141
Industrial 2,918 2,825 2,611 67 173 149
Finance 723 875 798 (50) 222 210
$ 14,246 $ 12,615 $ 10,973 1,479 1,595 1,253
Special charges (526) — —
Corporate expenses and other, net (170) (256) (206)
Interest expense, net for Manufacturing group (125) (87) (90)
Income from continuing operations before income taxes $ 658 $ 1,252 $ 957
Revenues by product type within each segment are summarized below:
Revenues
(In millions) 2008 2007 2006
Cessna: Fixed-wing aircraft $ 5,662 $ 5,000 $ 4,156
Bell: Rotor aircraft 2,827 2,581 2,347
Textron Systems: Armored vehicles, advanced military systems and piston aircraft engines 2,116 1,334 1,061
Industrial:
Fuel systems and functional components 1,763 1,723 1,542
Powered tools, testing and measurement equipment and other 435 426 373
Golf and turf-care products 720 676 696
Finance 723 875 798
$ 14,246 $ 12,615 $ 10,973
Our revenues include sales to the U.S. Government of approximately $3.4 billion in 2008, $2.5 billion in 2007 and $2.1 billion in 2006, primarily
in the Bell and Textron Systems segments.
Notes to the Consolidated Financial Statements