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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 02, 2016
Jul. 04, 2015
Cash flows from operating activities    
Net income $ 327 $ 295
Less: Loss from discontinued operations (2) (2)
Income from continuing operations 329 297
Non-cash items:    
Depreciation and amortization 223 220
Deferred income taxes 32 (15)
Other, net 51 53
Changes in assets and liabilities:    
Accounts receivable, net (80) (144)
Inventories (454) (516)
Other assets 28 (24)
Accounts payable 147 123
Accrued and other liabilities (377) 27
Income taxes, net 12 93
Pension, net 14 40
Captive finance receivables, net 48 53
Other operating activities, net (3) (2)
Net cash provided by (used in) operating activities of continuing operations (30) 205
Net cash used in operating activities of discontinued operations (1) (3)
Net cash provided by (used in) operating activities (31) 202
Cash flows from investing activities    
Capital expenditures (207) (173)
Net cash used in acquisitions (179) (34)
Finance receivables repaid 36 46
Other investing activities, net 52 26
Net cash provided by (used in) investing activities (298) (135)
Cash flows from financing activities    
Proceeds from long-term debt 362 9
Increase in short-term debt 12 105
Principal payments on long-term debt and nonrecourse debt (90) (130)
Purchases of Textron common stock (215) (87)
Dividends paid (11) (11)
Other financing activities, net 10 21
Net cash provided by (used in) financing activities 68 (93)
Effect of exchange rate changes on cash and equivalents (1) (4)
Net increase (decrease) in cash and equivalents (262) (30)
Cash and equivalents at beginning of period 1,005 822
Cash and equivalents at end of period 743 792
Manufacturing group    
Cash flows from operating activities    
Net income 320 285
Less: Loss from discontinued operations (2) (2)
Income from continuing operations 322 287
Non-cash items:    
Depreciation and amortization 217 215
Deferred income taxes 37 (6)
Other, net 51 51
Changes in assets and liabilities:    
Accounts receivable, net (80) (144)
Inventories (441) (525)
Other assets 29 (34)
Accounts payable 147 123
Accrued and other liabilities (373) 33
Income taxes, net 10 78
Pension, net 14 40
Dividends received from Finance Group 29  
Other operating activities, net (3) (2)
Net cash provided by (used in) operating activities of continuing operations (41) 116
Net cash used in operating activities of discontinued operations (1) (3)
Net cash provided by (used in) operating activities (42) 113
Cash flows from investing activities    
Capital expenditures (207) (173)
Net cash used in acquisitions (179) (34)
Other investing activities, net 3  
Net cash provided by (used in) investing activities (383) (207)
Cash flows from financing activities    
Proceeds from long-term debt 345  
Increase in short-term debt 12 105
Purchases of Textron common stock (215) (87)
Dividends paid (11) (11)
Other financing activities, net 10 21
Net cash provided by (used in) financing activities 141 28
Effect of exchange rate changes on cash and equivalents (1) (4)
Net increase (decrease) in cash and equivalents (285) (70)
Cash and equivalents at beginning of period 946 731
Cash and equivalents at end of period 661 661
Finance group    
Cash flows from operating activities    
Net income 7 10
Income from continuing operations 7 10
Non-cash items:    
Depreciation and amortization 6 5
Deferred income taxes (5) (9)
Other, net   2
Changes in assets and liabilities:    
Other assets (1) 10
Accrued and other liabilities (4) (6)
Income taxes, net 2 15
Net cash provided by (used in) operating activities of continuing operations 5 27
Net cash provided by (used in) operating activities 5 27
Cash flows from investing activities    
Finance receivables repaid 170 181
Finance receivables originated (86) (82)
Other investing activities, net 36 35
Net cash provided by (used in) investing activities 120 134
Cash flows from financing activities    
Proceeds from long-term debt 17 9
Principal payments on long-term debt and nonrecourse debt (90) (130)
Dividends paid (29)  
Net cash provided by (used in) financing activities (102) (121)
Net increase (decrease) in cash and equivalents 23 40
Cash and equivalents at beginning of period 59 91
Cash and equivalents at end of period $ 82 $ 131