(Dollars in millions, except per share amounts) 2020 2019
Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year
Revenues1
Textron Aviation 872 747 795 1,560  3,974  1,134 1,123 1,201 1,729 5,187
Bell 823 822 793 871  3,309  739 771 783 961 3,254
Textron Systems 328 326 302 357  1,313  307 308 311 399 1,325
Industrial 740 562 832 866  3,000  912 1,009 950 927 3,798
Finance 14 15 13 13  55  17 16 14 19 66
Total Revenues 2,777 2,472 2,735 3,667  11,651  3,109 3,227 3,259 4,035 13,630
Segment Profit (Loss)
Textron Aviation 3 (66) (29) 108  16  106 105 104 134 449
Bell 115 118  119  110  462  104 103 110 118 435
Textron Systems 26 37  40  49  152  28 49 31 33 141
Industrial 9 (11) 58  55  111  50 76 47 44 217
Finance 3 10  6 6 5 11 28
Total Segment Profit 156 82 189 324  751  294 339 297 340 1,270
Segment Profit (Loss) Margins
Textron Aviation 0.3% (8.8)% (3.6)% 6.9% 0.4% 9.3% 9.4% 8.7% 7.8% 8.7%
Bell 14.0% 14.4%  15.0%  12.6%  14.0%  14.1% 13.4% 14.0% 12.3% 13.4%
Textron Systems 7.9% 11.3%  13.2%  13.7%  11.6%  9.1% 15.9% 10.0% 8.3% 10.6%
Industrial 1.2% (2.0)% 7.0%  6.4%  3.7%  5.5% 7.5% 4.9% 4.7% 5.7%
Finance 21.4% 26.7%  7.7%  15.4%  18.2%  35.3% 37.5% 35.7% 57.9% 42.4%
Total Profit Margin 5.6% 3.3%  6.9% 8.8%  6.4%  9.5% 10.5% 9.1% 8.4% 9.3%
Corporate expenses and other, net (14) (30)  (28) (50)  (122)  (47) (24) (17) (22) (110)
Interest expense, net for the Manufacturing Group (34) (37)  (38) (36)  (145)  (35) (36) (39) (36) (146)
Special charges2 (39) (78)  (7) (23)  (147)  (72) (72)
Inventory charge3 (55)  (55) 
Income tax (expense) benefit (19) 26   (1) 21   27   (33) (62) (21) (11) (127)
Net income (loss)—GAAP 50 (92) 115 236  309  179 217 220 199 815
Special charges, net of taxes 30 67  6 16  119  55 55
Inventory charge, net of tax 55  55 
Tax benefit—TRU assets held for sale (8) (8)
Adjusted net income—Non-GAAP4 80 30  121 244  475  179 217 220 254 870
Diluted EPS—GAAP 0.22 (0.40) 0.50 1.03  1.35  0.76 0.93 0.95 0.87 3.50
Special charges, net of tax 0.13 0.29  0.03 0.07  0.52 
Inventory charge, net of tax 0.24  0.24  0.24 0.24
Tax benefit—TRU assets held for sale (0.04) (0.04)
Adjusted Diluted EPS—Non-GAAP4 0.35 0.13  0.53 1.06  2.07  0.76 0.93 0.95 1.11 3.74
1 At the beginning of 2018, we adopted ASC 606 using a modified retrospective basis and as a result, the comparative information has not been restated and is reported under the accounting standards in effect for these years.
2 In 2020, special charges included $108 million recorded under a restructuring plan, primarily impacting the TRU Simulation + Training (TRU) business within the Textron Systems segment, and the Textron Aviation and Industrial segments, and $39 million of charges related to the impairment of indefinite-lived trade name intangible assets, primarily in the Textron Aviation segment. In 2019, $72 million was recorded under a restructuring plan principally impacting the Industrial and Textron Aviation segments. In 2018, $73 million was recorded under a restructuring plan for the Specialized Vehicles businesses within our Industrial segment. In 2017 and 2016, special charges included $90 million and $123 million, respectively, related to our 2016 restructuring plan and $40 million in 2017, for a restructuring plan related to the Arctic Cat acquisition.
3In connection with the 2020 restructuring plan, we ceased manufacturing at TRU’s facility in Montreal, Canada, resulting in the production suspension of its commercial air transport simulators. As a result of market conditions and the cessation of manufacturing at this facility, we incurred a $55 million charge to write-down the related inventory to its net realizable value.
4 Adjusted net income and adjusted diluted earnings per share exclude special charges, net of tax, and an inventory charge, net of tax and a tax benefit both related to TRU Simulation + Training Canada Inc. (TRU Canada) in connection with the restructuring plan and disposition of this company. We consider items recorded in special charges, such as enterprise-wide restructuring, certain asset impairment charges, and acquisition-related restructuring, integration and transaction costs, to be of a non-recurring nature that is not indicative of ongoing operations. At TRU Canada, the inventory charge is excluded as it relates to the write-down of inventory in connection with an action taken under the restructuring plan described above. In the fourth quarter of 2020, we reached a definitive agreement to sell TRU Canada, which resulted in the recognition of an $8 million tax benefit. We believe this inventory charge and tax benefit are of a non-recurring nature and are not indicative of ongoing operations.