Revenues (Tables)

12 Months Ended

Dec. 29, 2018

Revenues

Schedule of revenue by major product type, customer type and geographic location

(In millions)		2018		2017		2016
Aircraft	$	3,435	$	3,112	$	3,412
Aftermarket parts and services		1,536		1,574		1,509
Textron Aviation		4,971		4,686		4,921
Military aircraft and support programs		2,030		2,076		2,087
Commercial helicopters, parts and services		1,150		1,241		1,152
Bell		3,180		3,317		3,239
Unmanned systems		612		714		763
Marine and land systems		311		470		294
Simulation, training and other		541		656		699
Textron Systems		1,464		1,840		1,756
Fuel systems and functional components		2,352		2,330		2,273
Specialized vehicles		1,691		1,486		1,080
Tools and test equipment		248		470		441
Industrial		4,291		4,286		3,794
Finance		66		69		78
Total revenues	$	13,972	$	14,198	$	13,788

(In millions)		Textron Aviation		Bell		Textron Systems		Industrial		Finance		Total
Customer type:
Commercial	$	4,734	$	1,114	$	431	$	4,277	$	66	$	10,622
U.S. Government		237		2,066		1,033		14		—		3,350
Total revenues	$	4,971	$	3,180	$	1,464	$	4,291	$	66	$	13,972
Geographic location:
United States	$	3,379	$	2,186	$	1,118	$	1,957	$	27	$	8,667
Europe		612		162		74		1,333		6		2,187
Asia and Australia		336		427		127		357		6		1,253
Other international		644		405		145		644		27		1,865
Total revenues	$	4,971	$	3,180	$	1,464	$	4,291	$	66	$	13,972

ASC 606

Revenues

Schedule of impacts of adopting ASC 606

	December 29, 2018
(In millions)		As Reported		Effect of the adoption of ASC 606		Under Prior Accounting
Consolidated Balance Sheets
Accounts receivable, net	$	1,024	$	219	$	1,243
Inventories		3,818		228		4,046
Other current assets		785		(454)		331
Property, plant and equipment, net		2,615		6		2,621
Other assets		1,800		36		1,836
Total Manufacturing group assets		13,247		35		13,282
Total assets		14,264		35		14,299
Other current liabilities		2,149		145		2,294
Total Manufacturing group liabilities		8,246		145		8,391
Total liabilities		9,072		145		9,217
Retained earnings		5,407		(110)		5,297
Total shareholders’ equity		5,192		(110)		5,082

	2018
(In millions, except per share amounts)		As Reported		Effect of the adoption of ASC 606		Under Prior Accounting
Consolidated Statements of Operations
Manufacturing revenues	$	13,906	$	(201)	$	13,705
Total revenues		13,972		(201)		13,771
Cost of sales		11,594		(174)		11,420
Income from continuing operations before income taxes		1,384		(27)		1,357
Income tax expense		162		(7)		155
Income from continuing operations		1,222		(20)		1,202
Net income		1,222		(20)		1,202
Basic earnings per share - continuing operations	$	4.88	$	(0.08)	$	4.80
Diluted earnings per share - continuing operations		4.83		(0.08)		4.75
Consolidated Statements of Comprehensive Income
Other comprehensive loss	$	(130)	$	(20)	$	(150)
Comprehensive income		1,092		(20)		1,072
Consolidated Statements of Cash flows
Net income	$	1,222	$	(20)	$	1,202
Income from continuing operations		1,222		(20)		1,202
Deferred income taxes		49		(7)		42
Accounts receivable, net		50		(16)		34
Inventories		41		(50)		(9)
Other assets		(88)		34		(54)
Other liabilities		(223)		59		(164)
Net cash provided by operating activities of continuing operations		1,109		—		1,109