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Note 15. Segment and Geographic Data
We operate in, and report financial information for, the following five business segments: Textron Aviation, which includes the
legacy Cessna segment and the acquired Beechcraft business, Bell, Textron Systems, Industrial and Finance. The accounting
policies of the segments are the same as those described in Note 1.
Textron Aviation products include Citation jets, King Air turboprops, Caravan utility turboprops, single-engine piston aircraft, T-6
and AT-6 military aircraft, and aftermarket sales and services sold to a diverse base of corporate and individual buyers.
Bell products include military and commercial helicopters, tiltrotor aircraft and related spare parts and services. Bell supplies
military helicopters and, in association with The Boeing Company, military tiltrotor aircraft, and aftermarket services to the U.S.
and non-U.S. governments. Bell also supplies commercial helicopters and aftermarket services to corporate, offshore petroleum
exploration and development, utility, charter, police, fire, rescue, emergency medical helicopter operators and foreign
governments.
Textron Systems products include unmanned aircraft systems, marine and land systems, weapons and sensors, simulation, training
and other defense and aviation mission support products and services primarily for U.S. and non-U.S. governments.
Industrial products and markets include the following:
x Kautex products include blow-molded plastic fuel systems, windshield and headlamp washer systems, selective catalytic
reduction systems and engine camshafts that are marketed primarily to automobile OEMs, as well as plastic bottles and
containers for various uses;
x Tools and Test Equipment products include powered equipment, electrical test and measurement instruments, mechanical
and hydraulic tools, cable connectors, fiber optic assemblies, underground and aerial transmission and distribution
products, and power utility products, principally used in the construction, maintenance, telecommunications, data
communications, electrical, utility and plumbing industries; and
x Specialized Vehicles and Equipment products include golf cars, off-road utility and light transportation vehicles, aviation
ground support equipment, professional turf-maintenance equipment and turf-care vehicles that are marketed primarily to
golf courses, resort communities, municipalities, sporting venues, consumers, and commercial and industrial users.
The Finance segment provides financing primarily to purchasers of new and pre-owned Textron Aviation aircraft and Bell
helicopters.
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 acquisition and restructuring costs related to the
Beechcraft acquisition. The measurement for the Finance segment includes interest income and expense along with intercompany
interest income and expense.
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 (Loss)
(In millions)
2014
2013
2012
2014
2013
2012
Textron Aviation
$ 4,568
$ 2,784
$ 3,111
$ 234
$ (48)
$ 82
Bell
4,245
4,511
4,274
529
573
639
Textron Systems
1,624
1,665
1,737
150
147
132
Industrial
3,338
3,012
2,900
280
242
215
Finance
103
132
215
21
49
64
Total
$ 13,878
$ 12,104
$ 12,237
$ 1,214
$ 963
$ 1,132
Corporate expenses and other, net
(161)
(166)
(148)
Interest expense, net for Manufacturing group
(148)
(123)
(143)
Acquisition and restructuring costs
(52)
—
—
Income from continuing operations before income taxes
$ 853
$ 674
$ 841
72 Textron Inc. Annual Report • 2014