E-Z-GO 2014 Annual Report Download - page 31

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Bell Segment Profit
Factors contributing to 2014 year-over-year segment profit change are provided below:
(In millions)
2014 versus
2013
Volume and Mix
$ (72)
Performance
23
Other
5
Total change
$ (44)
Bell’s segment profit decreased $44 million, 8%, in 2014, compared with 2013. The impact of volume and mix was largely driven
by lower commercial volume and an unfavorable mix of commercial aircraft deliveries, partially offset by a $16 million favorable
program profit adjustment related to the ARH program described above. Favorable performance primarily reflected our cost
reduction activities in 2014 as well as unfavorable performance in 2013 as described above.
Factors contributing to 2013 year-over-year segment profit change are provided below:
(In millions)
2013 versus
2012
Performance
$ (68)
Volume and mix
(10)
Other
12
Total change
$ (66)
Bell’s segment profit decreased $66 million, 10%, in 2013, respectively, compared with 2012, primarily due to unfavorable
performance as described above. Segment profit was also impacted by an unfavorable mix of commercial aircraft deliveries.
Bell Backlog
Backlog decreased $926 million, 14%, at Bell during 2014, primarily due to V-22 aircraft deliveries, in excess of orders. In 2013,
Bell’s backlog decreased $1.0 billion, 14%, primarily due to deliveries on the V-22 and H-1 programs that exceeded orders.
Textron Systems
% Change
(Dollars in millions)
2014
2013
2012
2014
2013
Revenues
$ 1,624
$ 1,665
$ 1,737
(2)%
(4)%
Operating expenses
1,474
1,518
1,605
(3)%
(5)%
Segment profit
150
147
132
2%
11%
Profit margin
9.2%
8.8%
7.6%
Backlog
$ 2,790
$ 2,803
$ 2,919
—
(4)%
Textron Systems Revenues and Operating Expenses
Factors contributing to the 2014 year-over-year revenue change are provided below:
(In millions)
2014 versus
2013
Volume
$ (106)
Acquisitions
62
Other
3
Total change
$ (41)
Revenues at Textron Systems decreased $41 million, 2%, in 2014, compared with 2013, primarily due to lower volume in the
Marine and Land Systems product line of $233 million, reflecting fewer vehicle deliveries, partially offset by higher volume in the
Unmanned Systems product line of $130 million and a $62 million impact largely related to the acquisition of two flight
simulation and training businesses in December 2013.
25
Textron Inc. Annual Report • 2014