1 2021 ANNUAL REPORT . TEXTRON'S DIVERSE Textron is known around the world for its powerful brands of aircraft, defense and industrial products that provide PRODUCT PORTFOLIO customers with groundbreaking technologies, innovative solutions and first-class service. TEXTRON AVIATION BELL INDUSTRIAL TEXTRON SYSTEMS. Citation Longitude Bell V-280 Valor Tracker Off Road 600 Ship-to-Shore Connector (SSC). Citation Latitude Bell-Boeing CMV-22 Osprey Blast-M Arctic Cat Aerosonde HQ. Beechcraft AT-6 Wolverine Bell 360 Invictus E-Z-GO Liberty RIPSAW M5. Beechcraft King Air 360 Bell 407 GXi Jacobsen Eclipse 360 ELiTE CottonmouthTM. Cessna SkyCourier Bell 429 Kautex Fuel System ATAC's Mirage F1B.
2 Fighter Jet Services Beechcraft Denali Bell 505 Textron GSE TUGTM ALPHA 1 Lycoming IO-390. TEXTRON'S GLOBAL NETWORK OF BUSINESSES. TEXTRON TEXTRON. AVIATION BELL INDUSTRIAL SYSTEMS FINANCE. Textron Aviation is Bell is a leading supplier Our Industrial segment Textron Systems' Our Finance segment, home to the Beechcraft of helicopters and offers two main product businesses develop operated by Textron and Cessna aircraft related spare parts lines: fuel systems and and integrate products Financial Corporation brands and is a leader in and services. Bell is functional components and services for (TFC), is a commercial general aviation through the pioneer of the produced by Kautex; and international finance business that two principal lines of revolutionary tiltrotor and specialized vehicles military, government provides financing business: aircraft and aircraft.
3 Globally such as golf cars, and commercial solutions for purchasers aftermarket. Aircraft recognized for world- recreational and utility customers to support of Textron products, includes sales of class customer service, vehicles, aviation ground defense, aerospace primarily Textron business jet, turboprop innovation and superior support equipment and other customer Aviation aircraft and and piston aircraft, as quality, Bell's global and professional mowers, missions. Product and Bell helicopters. For well as special mission workforce serves manufactured by service offerings include more than five decades, and military aircraft.
4 Customers flying Bell Textron Specialized unmanned aircraft TFC has played a Aftermarket includes aircraft in more than Vehicles businesses. systems, electronic key role for Textron commercial parts sales, 130 countries. systems and solutions, customers around maintenance, inspection advanced marine craft, the globe. and repair. piston aircraft engines, armored and specialty vehicles and other defense and aviation mission support products and services. SELECTED (Dollars in Millions, Except Per Share Amounts) 2021 2020. $12,382. YEAR-OVER- Total Revenues Total Segment Profit 1,134. $11,651. 751. YEAR Income from Continuing Operations GAAP 747 309.
5 Adjusted Income from Continuing Operations Non-GAAP1 748 475. FINANCIAL. Per Share of Common Stock DATA Common Stock Price at Year-End $ $ Diluted Income from Continuing Operations GAAP Adjusted Diluted Income from Continuing Operations Non-GAAP1 COMMON SHARES OUTSTANDING (In Thousands). Diluted Average 226,520 228,979. Year-End 216,935 226,444. FINANCIAL POSITION. Total Assets $15,827 $15,443. Manufacturing Group Debt 3,185 3,707. 1. Adjusted Income from Finance Group Debt 582 662. Continuing Operations, Adjusted Diluted Earnings Shareholders' Equity 6,815 5,845. Per Share and Manufacturing Manufacturing Group Debt-to-Capital (Net of Cash) 16% 21%.
6 Cash Flow Before Pension Manufacturing Group Debt-to-Capital 32% 39%. Contributions are Non-GAAP. Measures. See page 7 for KEY PERFORMANCE METRICS. a Reconciliation to GAAP. Net Cash from Operating Activities of Continuing Operations for the Manufacturing Group GAAP $ 1,469 $ 833. Manufacturing Cash Flow Before Pension Contributions Non-GAAP1 1,149 596. Textron 2021 ANNUAL REPORT 1. FELLOW SHAREHOLDERS, IN 2021, we experienced a rebound in customer The Denali is powered by demand for our commercial products, our businesses the new GE Aviation Catalyst executed well across our company and we made progress on engine, a more sustainable a number of our commercial products and military programs.
7 Engine that burns up to 20. We posted strong results with revenues of $ billion and percent less fuel than older segment profit of $ billion, increases of 6% and 51%, turboprop engines. respectively, year-over-year. During the year, we generated In addition to our new models, net cash from operating activities from our manufacturing we added three product businesses of $ billion and purchased million of our Scott C. Donnelly upgrades to our Cessna shares, returning $921 million in cash to our shareholders. Chairman and Citation lineup. Each model, Chief Executive Officer the XLS Gen2, CJ4 Gen2, STRONG YEAR FOR COMMERCIAL PRODUCTS.
8 And M2 Gen2, offers enhanced passenger comfort and With our strategy at Textron Aviation of making long-term new design elements. We also cleared the way for customer investments in new product development and service deliveries into Europe for our Citation Longitude, CJ4 Gen2. capabilities, our robust product lineup positioned us for and Beechcraft King Air 360 and King Air 260 with the success as we saw a solid recovery in the business jet market. receipt of European Aviation Safety Agency (EASA) type Business jet deliveries were up 27% year-over-year, and certification for these aircraft. we increased our backlog at the segment by $ billion, 157%, resulting in $ billion of backlog at the end of 2021.
9 Reflecting stronger demand across our commercial products and services, Bell saw solid commercial order activity for the As new aircraft rolled off our production lines, we continued year and increased commercial revenues. Bell completed our commitment to develop new aircraft and introduce the 300 th Bell 505 delivery and announced aircraft purchase upgraded aircraft to the market. Our new Cessna SkyCourier agreements and deliveries into new countries, including twin-engine, large-utility turboprop moved closer to Uganda and Ethiopia. certification and, by year-end, had completed a total of more than 2,100 hours of flight test activity.
10 Certification Textron Specialized Vehicles introduced the E-Z-GO Liberty, and first deliveries of the SkyCourier are anticipated in the the industry's first vehicle with four forward-facing seats first half of 2022. Meanwhile, the Beechcraft Denali, in a compact, golf-car-sized footprint, which received an our new single-engine turboprop in development, began its test flight program with a milestone first flight in November. JANUARY FEBRUARY MARCH. Bell flies alternate configuration of APT Textron Aviation unveils Citation CJ4 Gen2 Army awards Textron Systems contract for Shadow UAS upgrade 2 Textron 2021 ANNUAL REPORT TOTAL REVENUE BY SEGMENT TOTAL REVENUE BY TYPE TOTAL REVENUE BY REGION.