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Consolidated Statements of Cash Flows (Unaudited) - Manufacturing Group and Finance Group - USD ($)
$ in Millions
3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Cash flows from operating activities    
Net income $ 193 $ 171
Non-cash items:    
Depreciation and amortization 93 90
Deferred income taxes (52) 11
Gain on business disposition 0 (15)
Other, net 36 38
Changes in assets and liabilities:    
Accounts receivable, net 37 (103)
Inventories (176) (178)
Other assets (4) (17)
Accounts payable 38 259
Other liabilities 26 (105)
Income taxes, net 71 (11)
Pension, net (41) (23)
Other operating activities, net 2 (5)
Net cash provided by (used in) operating activities 241 181
Cash flows from investing activities    
Capital expenditures (48) (53)
Proceeds from sale of property, plant and equipment 18 0
Net proceeds from business disposition 0 39
Finance receivables repaid 13 13
Other investing activities, net 45 6
Net cash provided by (used in) investing activities 28 5
Cash flows from financing activities    
Principal payments on long-term debt and nonrecourse debt (121) (287)
Purchases of Textron common stock (157) (91)
Dividends paid (5) (5)
Proceeds from options exercised 28 27
Other financing activities, net (3) (3)
Net cash used in financing activities (258) (359)
Effect of exchange rate changes on cash and equivalents (2) (3)
Net increase (decrease) in cash and equivalents 9 (176)
Cash and equivalents at beginning of period 2,117 2,254
Cash and equivalents at end of period 2,126 2,078
Manufacturing group    
Cash flows from operating activities    
Net income 185 177
Non-cash items:    
Depreciation and amortization 93 88
Deferred income taxes (45) 11
Gain on business disposition 0 (15)
Other, net 37 39
Changes in assets and liabilities:    
Accounts receivable, net 37 (103)
Inventories (176) (178)
Other assets (4) (17)
Accounts payable 38 259
Other liabilities 37 (103)
Income taxes, net 62 (23)
Pension, net (41) (23)
Other operating activities, net 2 (5)
Net cash provided by (used in) operating activities 225 107
Cash flows from investing activities    
Capital expenditures (48) (53)
Proceeds from sale of property, plant and equipment 18 0
Net proceeds from business disposition 0 39
Finance receivables repaid 0 0
Finance receivables originated 0 0
Other investing activities, net 2 0
Net cash provided by (used in) investing activities (28) (14)
Cash flows from financing activities    
Principal payments on long-term debt and nonrecourse debt (2) (267)
Purchases of Textron common stock (157) (91)
Dividends paid (5) (5)
Proceeds from options exercised 28 27
Other financing activities, net (3) (3)
Net cash used in financing activities (139) (339)
Effect of exchange rate changes on cash and equivalents (2) (3)
Net increase (decrease) in cash and equivalents 56 (249)
Cash and equivalents at beginning of period 1,922 2,146
Cash and equivalents at end of period 1,978 1,897
Finance group    
Cash flows from operating activities    
Net income 8 (6)
Non-cash items:    
Depreciation and amortization 0 2
Deferred income taxes (7) 0
Gain on business disposition 0 0
Other, net (1) (1)
Changes in assets and liabilities:    
Accounts receivable, net 0 0
Inventories 0 0
Other assets 0 0
Accounts payable 0 0
Other liabilities (11) (2)
Income taxes, net 9 12
Pension, net 0 0
Other operating activities, net 0 0
Net cash provided by (used in) operating activities (2) 5
Cash flows from investing activities    
Capital expenditures 0 0
Proceeds from sale of property, plant and equipment 0 0
Net proceeds from business disposition 0 0
Finance receivables repaid 40 89
Finance receivables originated (9) (7)
Other investing activities, net 43 6
Net cash provided by (used in) investing activities 74 88
Cash flows from financing activities    
Principal payments on long-term debt and nonrecourse debt (119) (20)
Purchases of Textron common stock 0 0
Dividends paid 0 0
Proceeds from options exercised 0 0
Other financing activities, net 0 0
Net cash used in financing activities (119) (20)
Effect of exchange rate changes on cash and equivalents 0 0
Net increase (decrease) in cash and equivalents (47) 73
Cash and equivalents at beginning of period 195 108
Cash and equivalents at end of period $ 148 $ 181