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Consolidated Statements of Cash Flows (Unaudited) - Manufacturing Group and Finance Group - USD ($)
$ in Millions
9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
Cash flows from operating activities    
Income from continuing operations $ 636 $ 540
Non-cash items:    
Depreciation and amortization 288 285
Deferred income taxes (183) 7
Gain on business disposition 0 (17)
Other, net 77 85
Changes in assets and liabilities:    
Accounts receivable, net (23) 8
Inventories (353) (164)
Other assets 105 (11)
Accounts payable 116 1
Other liabilities 344 323
Income taxes, net 44 26
Pension, net (123) (62)
Other operating activities, net 6 1
Net cash provided by (used in) operating activities of continuing operations 963 1,174
Net cash used in operating activities of discontinued operations (2) (1)
Net cash provided by (used in) operating activities 961 1,173
Cash flows from investing activities    
Capital expenditures (192) (204)
Net cash used in business acquisitions (201) 0
Net proceeds from corporate-owned life insurance policies 23 0
Proceeds from sale of property, plant and equipment 21 3
Net proceeds from business disposition 0 38
Finance receivables repaid 21 19
Other investing activities, net 44 17
Net cash provided by (used in) investing activities (284) (127)
Cash flows from financing activities    
Decrease in short-term debt (15) 0
Principal payments on long-term debt and nonrecourse debt (227) (615)
Purchases of Textron common stock (639) (586)
Dividends paid (13) (14)
Proceeds from options exercised 36 105
Other financing activities, net (3) (2)
Net cash used in financing activities (861) (1,112)
Effect of exchange rate changes on cash and equivalents (49) (6)
Net increase (decrease) in cash and equivalents (233) (72)
Cash and equivalents at beginning of period 2,117 2,254
Cash and equivalents at end of period 1,884 2,182
Manufacturing group    
Cash flows from operating activities    
Income from continuing operations 615 537
Non-cash items:    
Depreciation and amortization 287 277
Deferred income taxes (168) 9
Gain on business disposition 0 (17)
Other, net 85 93
Changes in assets and liabilities:    
Accounts receivable, net (23) 8
Inventories (353) (164)
Other assets 105 (10)
Accounts payable 116 1
Other liabilities 356 323
Income taxes, net 42 16
Pension, net (123) (62)
Other operating activities, net 6 1
Net cash provided by (used in) operating activities of continuing operations 945 1,012
Net cash used in operating activities of discontinued operations (2) (1)
Net cash provided by (used in) operating activities 943 1,011
Cash flows from investing activities    
Capital expenditures (192) (204)
Net cash used in business acquisitions (201) 0
Net proceeds from corporate-owned life insurance policies 23 0
Proceeds from sale of property, plant and equipment 21 3
Net proceeds from business disposition 0 38
Finance receivables repaid 0 0
Finance receivables originated 0 0
Other investing activities, net 0 0
Net cash provided by (used in) investing activities (349) (163)
Cash flows from financing activities    
Decrease in short-term debt (15) 0
Principal payments on long-term debt and nonrecourse debt (16) (522)
Purchases of Textron common stock (639) (586)
Dividends paid (13) (14)
Proceeds from options exercised 36 105
Other financing activities, net (3) (2)
Net cash used in financing activities (650) (1,019)
Effect of exchange rate changes on cash and equivalents (49) (6)
Net increase (decrease) in cash and equivalents (105) (177)
Cash and equivalents at beginning of period 1,922 2,146
Cash and equivalents at end of period 1,817 1,969
Finance group    
Cash flows from operating activities    
Income from continuing operations 21 3
Non-cash items:    
Depreciation and amortization 1 8
Deferred income taxes (15) (2)
Gain on business disposition 0 0
Other, net (8) (8)
Changes in assets and liabilities:    
Accounts receivable, net 0 0
Inventories 0 0
Other assets 0 (1)
Accounts payable 0 0
Other liabilities (12) 0
Income taxes, net 2 10
Pension, net 0 0
Other operating activities, net 0 0
Net cash provided by (used in) operating activities of continuing operations (11) 10
Net cash used in operating activities of discontinued operations 0 0
Net cash provided by (used in) operating activities (11) 10
Cash flows from investing activities    
Capital expenditures 0 0
Net cash used in business acquisitions 0 0
Net proceeds from corporate-owned life insurance policies 0 0
Proceeds from sale of property, plant and equipment 0 0
Net proceeds from business disposition 0 0
Finance receivables repaid 108 205
Finance receivables originated (58) (34)
Other investing activities, net 44 17
Net cash provided by (used in) investing activities 94 188
Cash flows from financing activities    
Decrease in short-term debt 0 0
Principal payments on long-term debt and nonrecourse debt (211) (93)
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 (211) (93)
Effect of exchange rate changes on cash and equivalents 0 0
Net increase (decrease) in cash and equivalents (128) 105
Cash and equivalents at beginning of period 195 108
Cash and equivalents at end of period $ 67 $ 213