XML 20 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 29, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net income $ 976 $ 413
Less: Income from discontinued operations   1
Income from continuing operations 976 412
Non-cash items:    
Depreciation and amortization 322 332
Gain on business Disposition (444)  
Deferred income taxes 25 140
Asset impairments   25
Other, net 88 73
Changes in assets and liabilities:    
Accounts receivable, net 56 (220)
Inventories (190) 88
Other assets (28) (17)
Accounts payable (68) (178)
Other liabilities (80) (44)
Income taxes, net 44 (40)
Pension, net (7) (276)
Captive finance receivables, net 4 76
Other operating activities, net (1) (6)
Net cash provided by (used in) operating activities of continuing operations 697 365
Net cash used in operating activities of discontinued operations (1) (24)
Net cash provided by (used in) operating activities 696 341
Cash flows from investing activities    
Net proceeds from business disposition 807  
Capital expenditures (233) (276)
Net proceeds from corporate-owned life insurance policies 98 20
Net cash used in acquisitions (3) (330)
Finance receivables repaid 25 27
Other investing activities, net 40 48
Net cash provided by (used in) investing activities 734 (511)
Cash flows from financing activities    
Proceeds from long-term debt   682
Principal payments on long-term debt and nonrecourse debt (60) (116)
Purchases of Textron common stock (1,383) (451)
Dividends paid (15) (16)
Other financing activities, net 68 38
Net cash provided by (used in) financing activities (1,390) 137
Effect of exchange rate changes on cash and equivalents (9) 29
Net increase (decrease) in cash and equivalents 31 (4)
Cash and equivalents at beginning of period 1,262 1,298
Cash and equivalents at end of period 1,293 1,294
Manufacturing group    
Cash flows from operating activities    
Net income 959 400
Less: Income from discontinued operations   1
Income from continuing operations 959 399
Non-cash items:    
Depreciation and amortization 316 322
Gain on business Disposition (444)  
Deferred income taxes 29 141
Asset impairments   25
Other, net 83 75
Changes in assets and liabilities:    
Accounts receivable, net 56 (220)
Inventories (186) 89
Other assets (27) (12)
Accounts payable (68) (178)
Other liabilities (77) (36)
Income taxes, net 51 4
Pension, net (7) (276)
Dividends received from Finance group 50  
Other operating activities, net (1) (6)
Net cash provided by (used in) operating activities of continuing operations 734 327
Net cash used in operating activities of discontinued operations (1) (24)
Net cash provided by (used in) operating activities 733 303
Cash flows from investing activities    
Net proceeds from business disposition 807  
Capital expenditures (233) (276)
Net proceeds from corporate-owned life insurance policies 98 20
Net cash used in acquisitions (3) (330)
Other investing activities, net 12 7
Net cash provided by (used in) investing activities 681 (579)
Cash flows from financing activities    
Proceeds from long-term debt   645
Principal payments on long-term debt and nonrecourse debt (4) (3)
Purchases of Textron common stock (1,383) (451)
Dividends paid (15) (16)
Other financing activities, net 68 39
Net cash provided by (used in) financing activities (1,334) 214
Effect of exchange rate changes on cash and equivalents (9) 29
Net increase (decrease) in cash and equivalents 71 (33)
Cash and equivalents at beginning of period 1,079 1,137
Cash and equivalents at end of period 1,150 1,104
Finance group    
Cash flows from operating activities    
Net income 17 13
Income from continuing operations 17 13
Non-cash items:    
Depreciation and amortization 6 10
Deferred income taxes (4) (1)
Other, net 5 (2)
Changes in assets and liabilities:    
Other assets (1) (5)
Other liabilities (3) (8)
Income taxes, net (7) (44)
Net cash provided by (used in) operating activities of continuing operations 13 (37)
Net cash provided by (used in) operating activities 13 (37)
Cash flows from investing activities    
Finance receivables repaid 160 220
Finance receivables originated (131) (117)
Other investing activities, net 24 40
Net cash provided by (used in) investing activities 53 143
Cash flows from financing activities    
Proceeds from long-term debt   37
Principal payments on long-term debt and nonrecourse debt (56) (113)
Dividends paid (50)  
Other financing activities, net   (1)
Net cash provided by (used in) financing activities (106) (77)
Net increase (decrease) in cash and equivalents (40) 29
Cash and equivalents at beginning of period 183 161
Cash and equivalents at end of period $ 143 $ 190