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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash flows from operating activities    
Income from continuing operations $ 461 $ 454
Non-cash items:    
Depreciation and amortization 178 193
Deferred income taxes (34) (77)
Other, net 61 66
Changes in assets and liabilities:    
Accounts receivable, net 10 (97)
Inventories (467) (553)
Other assets 167 252
Accounts payable 107 207
Other liabilities (46) 116
Income taxes, net 10 14
Pension, net (112) (102)
Captive finance receivables, net 7 (15)
Other operating activities, net 19 2
Net cash provided by operating activities of continuing operations 361 460
Net cash used in operating activities of discontinued operations (1) (1)
Net cash provided by operating activities 360 459
Cash flows from investing activities    
Capital expenditures (140) (145)
Net cash used in business acquisitions (13) 0
Net proceeds from corporate-owned life insurance policies 26 38
Proceeds from sale of property, plant and equipment 3 0
Finance receivables repaid 31 19
Finance receivables originated (18) 0
Other investing activities, net 0 2
Net cash provided by (used in) investing activities (111) (86)
Cash flows from financing activities    
Principal payments on long-term debt and nonrecourse debt (374) (34)
Purchases of Textron common stock (675) (650)
Dividends paid (8) (8)
Proceeds from options exercised 73 31
Other financing activities, net (25) (5)
Net cash used in financing activities (1,009) (666)
Effect of exchange rate changes on cash and equivalents (10) 8
Net increase (decrease) in cash and equivalents (770) (285)
Cash and equivalents at beginning of period 2,181 2,035
Cash and equivalents at end of period $ 1,411 $ 1,750