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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 29, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 396 $ 413
Non-cash items:    
Depreciation and amortization 202 216
Deferred income taxes 32 12
Other, net 40 61
Changes in assets and liabilities:    
Accounts receivable, net 36 (42)
Inventories (505) (78)
Other assets (19) (38)
Accounts payable 132 (22)
Other liabilities (338) (165)
Income taxes, net 14 17
Pension, net (29) (5)
Captive finance receivables, net (19) 26
Other operating activities, net (2) 3
Net cash provided by (used in) operating activities of continuing operations (60) 398
Net cash used in operating activities of discontinued operations (1) (1)
Net cash provided by (used in) operating activities (61) 397
Cash flows from investing activities    
Capital expenditures (135) (159)
Net proceeds from corporate-owned life insurance policies 4 98
Finance receivables repaid 20 25
Other investing activities, net 7 30
Net cash provided by (used in) investing activities (104) (6)
Cash flows from financing activities    
Proceeds from long-term debt 297  
Principal payments on long-term debt and nonrecourse debt (35) (34)
Purchases of Textron common stock (361) (915)
Dividends paid (9) (10)
Other financing activities, net 19 43
Net cash used in financing activities (89) (916)
Effect of exchange rate changes on cash and equivalents 4 (6)
Net decrease in cash and equivalents (250) (531)
Cash and equivalents at beginning of period 1,107 1,262
Cash and equivalents at end of period 857 731
Manufacturing group    
Cash flows from operating activities    
Net income 387 398
Non-cash items:    
Depreciation and amortization 199 212
Deferred income taxes 33 14
Other, net 39 60
Changes in assets and liabilities:    
Accounts receivable, net 36 (42)
Inventories (532) (80)
Other assets (17) (39)
Accounts payable 132 (22)
Other liabilities (339) (162)
Income taxes, net 10 28
Pension, net (29) (5)
Dividends received from Finance group 50 50
Other operating activities, net (2) 3
Net cash provided by (used in) operating activities of continuing operations (33) 415
Net cash used in operating activities of discontinued operations (1) (1)
Net cash provided by (used in) operating activities (34) 414
Cash flows from investing activities    
Capital expenditures (135) (159)
Net proceeds from corporate-owned life insurance policies 4 98
Other investing activities, net 4 10
Net cash provided by (used in) investing activities (127) (51)
Cash flows from financing activities    
Proceeds from long-term debt 297  
Principal payments on long-term debt and nonrecourse debt (1)  
Purchases of Textron common stock (361) (915)
Dividends paid (9) (10)
Other financing activities, net 19 43
Net cash used in financing activities (55) (882)
Effect of exchange rate changes on cash and equivalents 4 (6)
Net decrease in cash and equivalents (212) (525)
Cash and equivalents at beginning of period 987 1,079
Cash and equivalents at end of period 775 554
Finance group    
Cash flows from operating activities    
Net income 9 15
Non-cash items:    
Depreciation and amortization 3 4
Deferred income taxes (1) (2)
Other, net 1 1
Changes in assets and liabilities:    
Other assets (2) 1
Other liabilities 1 (3)
Income taxes, net 4 (11)
Net cash provided by (used in) operating activities of continuing operations 15 5
Net cash provided by (used in) operating activities 15 5
Cash flows from investing activities    
Finance receivables repaid 91 112
Finance receivables originated (90) (61)
Other investing activities, net 30 22
Net cash provided by (used in) investing activities 31 73
Cash flows from financing activities    
Principal payments on long-term debt and nonrecourse debt (34) (34)
Dividends paid (50) (50)
Net cash used in financing activities (84) (84)
Net decrease in cash and equivalents (38) (6)
Cash and equivalents at beginning of period 120 183
Cash and equivalents at end of period $ 82 $ 177