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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 30, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net income $ 179 $ 189
Non-cash items:    
Depreciation and amortization 102 105
Deferred income taxes 15 2
Other, net 33 32
Changes in assets and liabilities:    
Accounts receivable, net (33) 63
Inventories (215) (128)
Other assets (31) (119)
Accounts payable 47 15
Other liabilities (288) (263)
Income taxes, net (7) 9
Pension, net (14) (2)
Captive finance receivables, net (1) 15
Other operating activities, net (3) (3)
Net cash provided by (used in) operating activities (216) (85)
Cash flows from investing activities    
Capital expenditures (59) (77)
Net proceeds from corporate-owned life insurance policies 2 58
Finance receivables repaid 12 16
Other investing activities, net 3 9
Net cash provided by (used in) investing activities (42) 6
Cash flows from financing activities    
Increase in short-term debt 100 2
Principal payments on long-term debt and nonrecourse debt (19) (19)
Purchases of Textron common stock (202) (344)
Dividends paid (5) (5)
Other financing activities, net 10 8
Net cash used in financing activities (116) (358)
Effect of exchange rate changes on cash and equivalents 9 11
Net decrease in cash and equivalents (365) (426)
Cash and equivalents at beginning of period 1,107 1,262
Cash and equivalents at end of period 742 836
Manufacturing group    
Cash flows from operating activities    
Net income 175 179
Non-cash items:    
Depreciation and amortization 100 103
Deferred income taxes 15 2
Other, net 33 32
Changes in assets and liabilities:    
Accounts receivable, net (33) 63
Inventories (241) (128)
Other assets (30) (118)
Accounts payable 47 15
Other liabilities (286) (259)
Income taxes, net (9) 13
Pension, net (14) (2)
Dividends received from Finance group 50 50
Other operating activities, net (3) (3)
Net cash provided by (used in) operating activities (196) (53)
Cash flows from investing activities    
Capital expenditures (59) (77)
Net proceeds from corporate-owned life insurance policies 2 58
Other investing activities, net 1 9
Net cash provided by (used in) investing activities (56) (10)
Cash flows from financing activities    
Increase in short-term debt 100 2
Purchases of Textron common stock (202) (344)
Dividends paid (5) (5)
Other financing activities, net 9 8
Net cash used in financing activities (98) (339)
Effect of exchange rate changes on cash and equivalents 9 11
Net decrease in cash and equivalents (341) (391)
Cash and equivalents at beginning of period 987 1,079
Cash and equivalents at end of period 646 688
Finance group    
Cash flows from operating activities    
Net income 4 10
Non-cash items:    
Depreciation and amortization 2 2
Changes in assets and liabilities:    
Other assets (1) (1)
Other liabilities (2) (4)
Income taxes, net 2 (4)
Net cash provided by (used in) operating activities 5 3
Cash flows from investing activities    
Finance receivables repaid 40 65
Finance receivables originated (29) (34)
Other investing activities, net 28  
Net cash provided by (used in) investing activities 39 31
Cash flows from financing activities    
Principal payments on long-term debt and nonrecourse debt (18) (19)
Dividends paid (50) (50)
Net cash used in financing activities (68) (69)
Net decrease in cash and equivalents (24) (35)
Cash and equivalents at beginning of period 120 183
Cash and equivalents at end of period $ 96 $ 148