| Reconciliation of Revenues by Segment |
Our revenues and expenses by segment are provided below: | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Textron Aviation | Bell | Textron Systems | Industrial | Textron eAviation | Finance | Total | | 2025 | | | | | | | | | Revenues | $ | 5,955 | | $ | 4,282 | | $ | 1,247 | | $ | 3,213 | | $ | 27 | | $ | 75 | | $ | 14,799 | | | Costs and expenses: | | | | | | | | | Cost of sales | 4,637 | | 3,537 | | 939 | | 2,733 | | 27 | | — | | 11,873 | | | Research and development costs | 214 | | 153 | | 45 | | 67 | | 42 | | — | | 521 | | | Selling and administrative expense | 410 | | 229 | | 88 | | 268 | | 21 | | 8 | | 1,024 | | | Interest expense, net | — | | — | | — | | — | | — | | 18 | | 18 | | | Segment profit (loss) | $ | 694 | | $ | 363 | | $ | 175 | | $ | 145 | | $ | (63) | | $ | 49 | | $ | 1,363 | | | 2024 | | | | | | | | | Revenues | $ | 5,284 | | $ | 3,579 | | $ | 1,241 | | $ | 3,515 | | $ | 33 | | $ | 50 | | $ | 13,702 | | | Costs and expenses: | | | | | | | | | Cost of sales | 4,102 | | 2,899 | | 929 | | 2,993 | | 29 | | — | | 10,952 | | | Research and development costs | 208 | | 97 | | 51 | | 72 | | 63 | | — | | 491 | | | Selling and administrative expense | 408 | | 213 | | 107 | | 299 | | 17 | | (4) | | 1,040 | | | Interest expense, net | — | | — | | — | | — | | — | | 19 | | 19 | | | Segment profit (loss) | $ | 566 | | $ | 370 | | $ | 154 | | $ | 151 | | $ | (76) | | $ | 35 | | $ | 1,200 | | | 2023 | | | | | | | | | Revenues | $ | 5,373 | | $ | 3,147 | | $ | 1,235 | | $ | 3,841 | | $ | 32 | | $ | 55 | | $ | 13,683 | | | Costs and expenses: | | | | | | | | | Cost of sales | 4,116 | | 2,392 | | 925 | | 3,221 | | 35 | | — | | 10,689 | | | Research and development costs | 199 | | 192 | | 53 | | 80 | | 46 | | — | | 570 | | | Selling and administrative expense | 409 | | 243 | | 110 | | 312 | | 14 | | (6) | | 1,082 | | | Interest expense, net | — | | — | | — | | — | | — | | 15 | | 15 | | | Segment profit (loss) | $ | 649 | | $ | 320 | | $ | 147 | | $ | 228 | | $ | (63) | | $ | 46 | | $ | 1,327 | |
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| Reconciliation of Segment Profit to Income From Continuing Operations Before Income Taxes |
A reconciliation of segment profit to income from continuing operations before income taxes is presented below: | | | | | | | | | | | | | | | | | (In millions) | 2025 | 2024 | 2023 | | Segment profit | $ | 1,363 | | $ | 1,200 | | $ | 1,327 | | | Unallocated amounts: | | | | | Corporate expenses and other, net | (149) | | (116) | | (143) | | | Interest expense, net for Manufacturing group | (108) | | (78) | | (62) | | | LIFO inventory provision | (199) | | (176) | | (107) | | | Intangible asset amortization | (32) | | (34) | | (39) | | | Special charges* | (4) | | (78) | | (126) | | | Inventory charge* | — | | (38) | | — | | | Non-service components of pension and postretirement income, net | 266 | | 263 | | 237 | | | Income from continuing operations before income taxes | $ | 1,137 | | $ | 943 | | $ | 1,087 | |
* See Note 15 for additional information.
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| Other Information by Segment |
Other information by segment is provided below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Assets | Capital Expenditures | Depreciation and Amortization | | (In millions) | January 3,
2026 | December 28,
2024 | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | | Textron Aviation | $ | 4,907 | | $ | 4,624 | | $ | 140 | | $ | 136 | | $ | 138 | | $ | 167 | | $ | 164 | | $ | 160 | | | Bell | 3,132 | | 2,992 | | 132 | | 122 | | 119 | | 103 | | 86 | | 89 | | | Textron Systems | 2,107 | | 2,036 | | 41 | | 40 | | 48 | | 48 | | 48 | | 41 | | | Industrial | 2,305 | | 2,378 | | 68 | | 62 | | 91 | | 68 | | 70 | | 89 | | | Textron eAviation | 313 | | 286 | | 1 | | 4 | | 4 | | 8 | | 7 | | 7 | | | Finance | 677 | | 680 | | — | | — | | — | | — | | — | | — | | | Corporate | 4,688 | | 3,842 | | 1 | | — | | 2 | | 7 | | 7 | | 9 | | | Total | $ | 18,129 | | $ | 16,838 | | $ | 383 | | $ | 364 | | $ | 402 | | $ | 401 | | $ | 382 | | $ | 395 | |
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