v3.25.4

Debt and Credit Facilities | 12 Months Ended
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Jan. 03, 2026
Debt Disclosure [Abstract] |
Debt and Credit Facilities | Debt and Credit Facilities Our debt is summarized in the table below:
(In millions) | January 3, 2026 | December 28, 2024
Manufacturing group |  |
3.875% due 2025 | $ | — |  | $ | 350 |
4.00% due 2026* | — |  | 350 |
3.65% due 2027 | 350 |  | 350 |
3.375% due 2028 | 300 |  | 300 |
3.90% due 2029 | 300 |  | 300 |
3.00% due 2030 | 650 |  | 650 |
2.45% due 2031 | 500 |  | 500 |
6.10% due 2033 | 350 |  | 350 |
5.50% due 2035 | 500 |  | — |
4.95% due 2036 | 500 |  | — |
Other (weighted-average rate of 6.08% and 5.87%, respectively) | 89 |  | 97 |
Total Manufacturing group debt | $ | 3,539 |  | $ | 3,247 |
Less: Current portion of long-term debt | (5) |  | (357) |
Total Long-term debt | $ | 3,534 |  | $ | 2,890 |
Finance group |  |
Variable-rate note due 2028 (weighted-average rate of 5.04% and 5.70%, respectively) | $ | 25 |  | $ | 25 |
Fixed-rate note due 2027 (4.40%) | 50 |  | 50 |
Floating Rate Junior Subordinated Notes due 2067 (5.85% and 6.52%, respectively) | 264 |  | 264 |
Other | — |  | 2 |
Total Finance group debt | $ | 339 |  | $ | 341 |
* On December 31, 2025, we repaid our $350 million 4.00% notes due in March 2026. The following table shows required principal payments during the next five years on debt outstanding at January 3, 2026:
(In millions) | 2026 | 2027 | 2028 | 2029 | 2030
Manufacturing group | $ | 5 |  | $ | 355 |  | $ | 375 |  | $ | 301 |  | $ | 651 |
Finance group | — |  | 50 |  | 25 |  | — |  | — |
Total | $ | 5 |  | $ | 405 |  | $ | 400 |  | $ | 301 |  | $ | 651 |
On October 16, 2025, Textron entered into a senior unsecured revolving credit facility for an aggregate principal amount of $1.0 billion, of which $100 million is available for the issuance of letters of credit. We may elect to increase the aggregate amount of commitments under the facility to up to $1.3 billion by designating an additional lender or by an existing lender agreeing to increase its commitment. The facility expires in October 2030 and provides for two one-year extensions at our option with the consent of lenders representing a majority of the commitments under the facility. The new facility replaces the prior 5-year facility which was scheduled to expire in October 2027. At January 3, 2026 and December 28, 2024, there were no amounts borrowed against either facility. At January 3, 2026, there were no letters of credit issued and outstanding under the new facility, and at December 28, 2024, there was a $9 million letter of credit issued and outstanding under the prior facility. Floating Rate Junior Subordinated Notes The Finance group’s $264 million of Floating Rate Junior Subordinated Notes are unsecured and rank junior to all of its existing and future senior debt. The notes mature on February 15, 2067; however, we have the right to redeem the notes at par at any time and we are obligated to redeem the notes beginning on February 15, 2042. Interest is variable at the three-month CME Term Secured Overnight Financing Rate + 1.99661%. Support Agreement Under a Support Agreement between Textron and TFC, Textron is required to maintain a controlling interest in TFC. The agreement, as amended in December 2015, also requires Textron to ensure that TFC maintains fixed charge coverage of no less than 125% and consolidated shareholders' equity of no less than $125 million. There were no cash contributions required to be paid to TFC in 2025, 2024 and 2023 to maintain compliance with the support agreement.

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