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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Oct. 02, 2021
Oct. 03, 2020
Cash flows from operating activities    
Income from continuing operations $ 540 $ 73
Non-cash items:    
Depreciation and amortization 285 283
Gain on business disposition (17) 0
Deferred income taxes 7 (31)
Asset impairments and TRU inventory charge 11 111
Other, net 74 81
Changes in assets and liabilities:    
Accounts receivable, net 8 59
Inventories (164) (258)
Other assets (11) 114
Accounts payable 1 (267)
Other liabilities 323 60
Income taxes, net 26 (4)
Pension, net (62) (11)
Captive finance receivables, net 152 (25)
Other operating activities, net 1 15
Net cash provided by operating activities of continuing operations 1,174 200
Net cash used in operating activities of discontinued operations (1) (1)
Net cash provided by operating activities 1,173 199
Cash flows from investing activities    
Capital expenditures (204) (151)
Net proceeds from business disposition 38 0
Proceeds from an insurance recovery and sale of property, plant and equipment 3 25
Net proceeds from corporate-owned life insurance policies 0 21
Net cash used in acquisitions 0 (11)
Finance receivables repaid 19 21
Other investing activities, net 17 3
Net cash provided by (used in) investing activities (127) (92)
Cash flows from financing activities    
Decrease in short-term debt 0 (2)
Net proceeds from long-term debt 0 1,137
Proceeds from borrowings against corporate-owned life insurance policies 0 377
Payment on borrowings against corporate-owned life insurance policies 0 (15)
Principal payments on long-term debt and nonrecourse debt (615) (235)
Purchases of Textron common stock (586) (54)
Dividends paid (14) (14)
Proceeds from options exercised 105 16
Other financing activities, net (2) (2)
Net cash provided by (used in) financing activities (1,112) 1,208
Effect of exchange rate changes on cash and equivalents (6) (2)
Net increase (decrease) in cash and equivalents (72) 1,313
Cash and equivalents at beginning of period 2,254 1,357
Cash and equivalents at end of period 2,182 2,670
Manufacturing group    
Cash flows from operating activities    
Income from continuing operations 537 67
Non-cash items:    
Depreciation and amortization 277 279
Gain on business disposition (17) 0
Deferred income taxes 9 (30)
Asset impairments and TRU inventory charge 11 111
Other, net 82 74
Changes in assets and liabilities:    
Accounts receivable, net 8 59
Inventories (164) (258)
Other assets (10) 114
Accounts payable 1 (267)
Other liabilities 323 66
Income taxes, net 16 1
Pension, net (62) (11)
Other operating activities, net 1 15
Net cash provided by operating activities of continuing operations 1,012 220
Net cash used in operating activities of discontinued operations (1) (1)
Net cash provided by operating activities 1,011 219
Cash flows from investing activities    
Capital expenditures (204) (151)
Net proceeds from business disposition 38 0
Proceeds from an insurance recovery and sale of property, plant and equipment 3 25
Net proceeds from corporate-owned life insurance policies 0 21
Net cash used in acquisitions 0 (11)
Finance receivables repaid 0 0
Finance receivables originated 0 0
Other investing activities, net 0 0
Net cash provided by (used in) investing activities (163) (116)
Cash flows from financing activities    
Decrease in short-term debt 0 (2)
Net proceeds from long-term debt 0 1,137
Proceeds from borrowings against corporate-owned life insurance policies 0 377
Payment on borrowings against corporate-owned life insurance policies 0 (15)
Principal payments on long-term debt and nonrecourse debt (522) (195)
Purchases of Textron common stock (586) (54)
Dividends paid (14) (14)
Proceeds from options exercised 105 16
Other financing activities, net (2) (14)
Net cash provided by (used in) financing activities (1,019) 1,236
Effect of exchange rate changes on cash and equivalents (6) (2)
Net increase (decrease) in cash and equivalents (177) 1,337
Cash and equivalents at beginning of period 2,146 1,181
Cash and equivalents at end of period 1,969 2,518
Finance group    
Cash flows from operating activities    
Income from continuing operations 3 6
Non-cash items:    
Depreciation and amortization 8 4
Gain on business disposition 0 0
Deferred income taxes (2) (1)
Asset impairments and TRU inventory charge 0 0
Other, net (8) 7
Changes in assets and liabilities:    
Accounts receivable, net 0 0
Inventories 0 0
Other assets (1) 0
Accounts payable 0 0
Other liabilities 0 (6)
Income taxes, net 10 (5)
Pension, net 0 0
Other operating activities, net 0 0
Net cash provided by operating activities of continuing operations 10 5
Net cash used in operating activities of discontinued operations 0 0
Net cash provided by operating activities 10 5
Cash flows from investing activities    
Capital expenditures 0 0
Net proceeds from business disposition 0 0
Proceeds from an insurance recovery and sale of property, plant and equipment 0 0
Net proceeds from corporate-owned life insurance policies 0 0
Net cash used in acquisitions 0 0
Finance receivables repaid 205 90
Finance receivables originated (34) (94)
Other investing activities, net 17 3
Net cash provided by (used in) investing activities 188 (1)
Cash flows from financing activities    
Decrease in short-term debt 0 0
Net proceeds from long-term debt 0 0
Proceeds from borrowings against corporate-owned life insurance policies 0 0
Payment on borrowings against corporate-owned life insurance policies 0 0
Principal payments on long-term debt and nonrecourse debt (93) (40)
Purchases of Textron common stock 0 0
Dividends paid 0 0
Proceeds from options exercised 0 0
Other financing activities, net 0 12
Net cash provided by (used in) financing activities (93) (28)
Effect of exchange rate changes on cash and equivalents 0 0
Net increase (decrease) in cash and equivalents 105 (24)
Cash and equivalents at beginning of period 108 176
Cash and equivalents at end of period $ 213 $ 152