| Revenues |
Revenues Disaggregation of Revenues Our revenues disaggregated by major product type are presented below: | | | | | | | | | | | | | | | | Three Months Ended | Nine Months Ended | | (In millions) | September 28,
2024 | September 30,
2023 | September 28,
2024 | September 30,
2023 | | Aircraft | $ | 869 | | $ | 891 | | $ | 2,576 | | $ | 2,529 | | | Aftermarket parts and services | 470 | | 447 | | 1,426 | | 1,320 | | | Textron Aviation | $ | 1,339 | | $ | 1,338 | | $ | 4,002 | | $ | 3,849 | | | Military aircraft and support programs | 553 | | 472 | | 1,532 | | 1,252 | | | Commercial helicopters, parts and services | 376 | | 282 | | 918 | | 824 | | | Bell | $ | 929 | | $ | 754 | | $ | 2,450 | | $ | 2,076 | | | Textron Systems | $ | 301 | | $ | 309 | | $ | 930 | | $ | 921 | | | Fuel systems and functional components | 452 | | 465 | | 1,432 | | 1,476 | | | Specialized vehicles | 388 | | 457 | | 1,214 | | 1,404 | | | Industrial | $ | 840 | | $ | 922 | | $ | 2,646 | | $ | 2,880 | | | Textron eAviation | $ | 6 | | $ | 7 | | $ | 22 | | $ | 22 | | | Finance | $ | 12 | | $ | 13 | | $ | 39 | | $ | 43 | | | Total revenues | $ | 3,427 | | $ | 3,343 | | $ | 10,089 | | $ | 9,791 | |
Our revenues for our segments by customer type and geographic location are presented below: | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Textron
Aviation | Bell | Textron
Systems | Industrial | Textron eAviation | Finance | Total | | Three months ended September 28, 2024 | | | | | | | | Customer type: | | | | | | | | | Commercial | $ | 1,259 | | $ | 356 | | $ | 67 | | $ | 834 | | $ | 6 | | $ | 12 | | $ | 2,534 | | | U.S. Government | 80 | | 573 | | 234 | | 6 | | — | | — | | 893 | | | Total revenues | $ | 1,339 | | $ | 929 | | $ | 301 | | $ | 840 | | $ | 6 | | $ | 12 | | $ | 3,427 | | | Geographic location: | | | | | | | | | United States | $ | 1,002 | | $ | 693 | | $ | 273 | | $ | 452 | | $ | 5 | | $ | 5 | | $ | 2,430 | | | Europe | 99 | | 23 | | 10 | | 144 | | 1 | | — | | 277 | | | | | | | | | | | Other international | 238 | | 213 | | 18 | | 244 | | — | | 7 | | 720 | | | Total revenues | $ | 1,339 | | $ | 929 | | $ | 301 | | $ | 840 | | $ | 6 | | $ | 12 | | $ | 3,427 | | | Three months ended September 30, 2023 | | | | | | | | Customer type: | | | | | | | | | Commercial | $ | 1,302 | | $ | 270 | | $ | 66 | | $ | 915 | | $ | 7 | | $ | 13 | | $ | 2,573 | | | U.S. Government | 36 | | 484 | | 243 | | 7 | | — | | — | | 770 | | | Total revenues | $ | 1,338 | | $ | 754 | | $ | 309 | | $ | 922 | | $ | 7 | | $ | 13 | | $ | 3,343 | | | Geographic location: | | | | | | | | | United States | $ | 906 | | $ | 573 | | $ | 275 | | $ | 488 | | $ | 4 | | $ | 4 | | $ | 2,250 | | | Europe | 133 | | 41 | | 10 | | 174 | | 2 | | — | | 360 | | | | | | | | | | | Other international | 299 | | 140 | | 24 | | 260 | | 1 | | 9 | | 733 | | | Total revenues | $ | 1,338 | | $ | 754 | | $ | 309 | | $ | 922 | | $ | 7 | | $ | 13 | | $ | 3,343 | | | Nine months ended September 28, 2024 | | | | | | | | Customer type: | | | | | | | | | Commercial | $ | 3,757 | | $ | 883 | | $ | 218 | | $ | 2,626 | | $ | 22 | | $ | 39 | | $ | 7,545 | | | U.S. Government | 245 | | 1,567 | | 712 | | 20 | | — | | — | | 2,544 | | | Total revenues | $ | 4,002 | | $ | 2,450 | | $ | 930 | | $ | 2,646 | | $ | 22 | | $ | 39 | | $ | 10,089 | | | Geographic location: | | | | | | | | | United States | $ | 3,099 | | $ | 1,891 | | $ | 830 | | $ | 1,409 | | $ | 14 | | $ | 13 | | $ | 7,256 | | | Europe | 252 | | 60 | | 35 | | 525 | | 6 | | 5 | | 883 | | | | | | | | | | | Other international | 651 | | 499 | | 65 | | 712 | | 2 | | 21 | | 1,950 | | | Total revenues | $ | 4,002 | | $ | 2,450 | | $ | 930 | | $ | 2,646 | | $ | 22 | | $ | 39 | | $ | 10,089 | | | Nine months ended September 30, 2023 | | | | | | | | Customer type: | | | | | | | | | Commercial | $ | 3,730 | | $ | 803 | | $ | 210 | | $ | 2,866 | | $ | 22 | | $ | 43 | | $ | 7,674 | | | U.S. Government | 119 | | 1,273 | | 711 | | 14 | | — | | — | | 2,117 | | | Total revenues | $ | 3,849 | | $ | 2,076 | | $ | 921 | | $ | 2,880 | | $ | 22 | | $ | 43 | | $ | 9,791 | | | Geographic location: | | | | | | | | | United States | $ | 2,675 | | $ | 1,567 | | $ | 824 | | $ | 1,548 | | $ | 12 | | $ | 12 | | $ | 6,638 | | | Europe | 358 | | 95 | | 41 | | 579 | | 8 | | 1 | | 1,082 | | | | | | | | | | | Other international | 816 | | 414 | | 56 | | 753 | | 2 | | 30 | | 2,071 | | | Total revenues | $ | 3,849 | | $ | 2,076 | | $ | 921 | | $ | 2,880 | | $ | 22 | | $ | 43 | | $ | 9,791 | |
Remaining Performance Obligations Our remaining performance obligations, which is the equivalent of our backlog, represent the expected transaction price allocated to our contracts that we expect to recognize as revenues in future periods when we perform under the contracts. These remaining obligations exclude unexercised contract options and potential orders under ordering-type contracts such as Indefinite Delivery, Indefinite Quantity contracts. At September 28, 2024, we had $16.0 billion in remaining performance obligations of which we expect to recognize revenues of approximately 64% through 2025, an additional 34% through 2027, and the balance thereafter. Contract Assets and Liabilities Assets and liabilities related to our contracts with customers are reported on a contract-by-contract basis at the end of each reporting period. At September 28, 2024 and December 30, 2023, contract assets totaled $376 million and $513 million, respectively, and contract liabilities totaled $1.8 billion for both dates, reflecting timing differences between revenues recognized, billings and payments from customers. We recognized revenues of $252 million and $70 million in the third quarter of 2024 and 2023, respectively, and $912 million and $766 million in the first nine months of 2024 and 2023, respectively, that were included in the contract liability balance at the beginning of each year.
|