|
|
In millions
|
|
Engine
|
|
Power
Generation
|
|
Components
|
|
Distribution
|
|
Non-segment
Items(1)
|
|
Total
|
|
|
Three months ended September 25, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
External sales
|
|
$
|
2,539
|
|
$
|
604
|
|
$
|
704
|
|
$
|
779
|
|
$
|
|
|
$
|
4,626
|
|
|
Intersegment sales
|
|
416
|
|
270
|
|
311
|
|
4
|
|
(1,001
|
)
|
|
|
|
Total sales
|
|
2,955
|
|
874
|
|
1,015
|
|
783
|
|
(1,001
|
)
|
4,626
|
|
|
Depreciation and amortization(2)
|
|
46
|
|
11
|
|
19
|
|
6
|
|
|
|
82
|
|
|
Research, development and engineering expenses
|
|
103
|
|
14
|
|
46
|
|
1
|
|
|
|
164
|
|
|
Equity, royalty and interest income from investees
|
|
35
|
|
16
|
|
7
|
|
44
|
|
|
|
102
|
|
|
Interest income
|
|
5
|
|
2
|
|
1
|
|
1
|
|
|
|
9
|
|
|
Segment EBIT
|
|
349
|
|
92
|
|
113
|
|
104
|
|
(18
|
)
|
640
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 26, 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
External sales
|
|
$
|
1,727
|
|
$
|
564
|
|
$
|
540
|
|
$
|
570
|
|
$
|
|
|
$
|
3,401
|
|
|
Intersegment sales
|
|
342
|
|
227
|
|
229
|
|
3
|
|
(801
|
)
|
|
|
|
Total sales
|
|
2,069
|
|
791
|
|
769
|
|
573
|
|
(801
|
)
|
3,401
|
|
|
Depreciation and amortization(2)
|
|
42
|
|
10
|
|
20
|
|
5
|
|
|
|
77
|
|
|
Research, development and engineering expenses
|
|
65
|
|
8
|
|
30
|
|
|
|
|
|
103
|
|
|
Equity, royalty and interest income from investees
|
|
37
|
|
12
|
|
6
|
|
33
|
|
|
|
88
|
|
|
Interest income
|
|
3
|
|
2
|
|
|
|
1
|
|
|
|
6
|
|
|
Segment EBIT
|
|
223
|
|
97
|
|
63
|
|
74
|
|
(8
|
)
|
449
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended
September 25, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
External sales
|
|
$
|
7,021
|
|
$
|
1,810
|
|
$
|
2,105
|
|
$
|
2,191
|
|
$
|
|
|
$
|
13,127
|
|
|
Intersegment sales
|
|
1,225
|
|
768
|
|
866
|
|
19
|
|
(2,878
|
)
|
|
|
|
Total sales
|
|
8,246
|
|
2,578
|
|
2,971
|
|
2,210
|
|
(2,878
|
)
|
13,127
|
|
|
Depreciation and amortization(2)
|
|
135
|
|
32
|
|
55
|
|
17
|
|
|
|
239
|
|
|
Research, development and engineering expenses
|
|
285
|
|
37
|
|
126
|
|
2
|
|
|
|
450
|
|
|
Equity, royalty and interest income from investees
|
|
126
|
|
37
|
|
24
|
|
128
|
|
|
|
315
|
|
|
Interest income
|
|
14
|
|
6
|
|
3
|
|
2
|
|
|
|
25
|
|
|
Segment EBIT
|
|
1,016
|
|
286
|
|
338
|
|
299
|
|
8
|
|
1,947
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended
September 26, 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
External sales
|
|
$
|
4,495
|
|
$
|
1,460
|
|
$
|
1,515
|
|
$
|
1,617
|
|
$
|
|
|
$
|
9,087
|
|
|
Intersegment sales
|
|
896
|
|
556
|
|
613
|
|
8
|
|
(2,073
|
)
|
|
|
|
Total sales
|
|
5,391
|
|
2,016
|
|
2,128
|
|
1,625
|
|
(2,073
|
)
|
9,087
|
|
|
Depreciation and amortization(2)
|
|
125
|
|
31
|
|
61
|
|
19
|
|
|
|
236
|
|
|
Research, development and engineering expenses
|
|
187
|
|
23
|
|
81
|
|
|
|
|
|
291
|
|
|
Equity, royalty and interest income from investees
|
|
124
|
|
27
|
|
17
|
|
93
|
|
|
|
261
|
|
|
Interest income
|
|
7
|
|
4
|
|
1
|
|
2
|
|
|
|
14
|
|
|
Segment EBIT
|
|
553
|
|
207
|
|
195
|
|
215
|
|
(54
|
)
|
1,116
|
|
(1) Includes intersegment sales and profit in inventory eliminations and unallocated corporate expenses. The nine months ended September 25, 2011, include a $68 million gain ($37 million after-tax) related to the sale of our exhaust business from the Components segment. The gain has been excluded from segment results as it was not considered by management in its evaluation of operating results for the nine months ended September 25, 2011. For the three and nine months ended September 26, 2010, unallocated corporate expenses included $32 million of Brazil tax recoveries ($21 million after-tax) and $2 million in flood damage expenses. In the third quarter of 2010, it was determined that we overpaid a Brazilian revenue based tax during 2004-2008. Our 2010 results include a pre-tax recovery related to tax credits on imported products arising from this overpayment. The recovery has been excluded from segment results as it was not considered by management it its evaluation of operating results for the quarter. There were no other significant unallocated corporate expenses for the three and nine months ended September 25, 2011 and September 26, 2010.
(2) Depreciation and amortization as shown on a segment basis excludes the amortization of debt discount that is included in the Condensed Consolidated Statements of Income as Interest expense.
|