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Consolidated Statements of Cash Flows - Manufacturing Group and Finance Group - USD ($)
$ in Millions
12 Months Ended
Jan. 01, 2022
Jan. 02, 2021
Jan. 04, 2020
Cash flows from operating activities      
Income from continuing operations $ 747 $ 309 $ 815
Non-cash items:      
Depreciation and amortization 390 391 416
Gain on business disposition (17) 0 0
Deferred income taxes 23 (7) 89
Asset impairments and TRU inventory charge 13 116 15
Other, net 88 79 79
Changes in assets and liabilities:      
Accounts receivable, net (58) 149 99
Inventories 45 434 (292)
Other assets (112) 66 (37)
Accounts payable 13 (613) 280
Other liabilities 405 (5) (348)
Income taxes, net 11 (62) (83)
Pension, net (82) (15) (62)
Other operating activities, net 2 16 0
Net cash provided by (used in) operating activities of continuing operations 1,599 769 1,016
Net cash used in operating activities of discontinued operations (1) (1) (2)
Net cash provided by (used in) operating activities 1,598 768 1,014
Cash flows from investing activities      
Capital expenditures (375) (317) (339)
Net proceeds from business disposition 38 0 0
Proceeds from an insurance recovery and sale of property, plant and equipment 3 33 9
Net (payments) proceeds from corporate-owned life insurance policies (2) 22 2
Net cash used in acquisitions 0 (15) (2)
Finance receivables repaid 19 22 48
Other investing activities, net 36 7 16
Net cash used in investing activities (281) (248) (266)
Cash flows from financing activities      
Net proceeds from long-term debt 0 1,137 301
Principal payments on long-term debt and nonrecourse debt (621) (593) (303)
Proceeds from borrowings against corporate-owned life insurance policies 0 377 0
Payments on borrowings against corporate-owned life insurance policies 0 (377) 0
Purchases of Textron common stock (921) (183) (503)
Proceeds from exercise of stock options 116 22 24
Dividends paid (18) (18) (18)
Other financing activities, net (2) (5) (3)
Net cash provided by (used in) financing activities (1,446) 360 (502)
Effect of exchange rate changes on cash and equivalents (8) 17 4
Net increase (decrease) in cash and equivalents (137) 897 250
Cash and equivalents at beginning of year 2,254 1,357 1,107
Cash and equivalents at end of year 2,117 2,254 1,357
Manufacturing group      
Cash flows from operating activities      
Income from continuing operations 740 301 793
Non-cash items:      
Depreciation and amortization 380 386 410
Gain on business disposition (17) 0 0
Deferred income taxes 27 (2) 91
Asset impairments and TRU inventory charge 13 116 15
Other, net 97 69 79
Changes in assets and liabilities:      
Accounts receivable, net (58) 149 99
Inventories 45 434 (319)
Other assets (111) 68 (34)
Accounts payable 13 (613) 280
Other liabilities 404 (15) (352)
Income taxes, net 16 (61) (90)
Pension, net (82) (15) (62)
Dividends received from Finance group 0 0 50
Other operating activities, net 2 16 0
Net cash provided by (used in) operating activities of continuing operations 1,469 833 960
Net cash used in operating activities of discontinued operations (1) (1) (2)
Net cash provided by (used in) operating activities 1,468 832 958
Cash flows from investing activities      
Capital expenditures (375) (317) (339)
Net proceeds from business disposition 38 0 0
Proceeds from an insurance recovery and sale of property, plant and equipment 3 33 9
Net (payments) proceeds from corporate-owned life insurance policies (2) 22 2
Net cash used in acquisitions 0 (15) (2)
Finance receivables repaid 0 0 0
Finance receivables originated 0 0 0
Other investing activities, net 1 0 1
Net cash used in investing activities (335) (277) (329)
Cash flows from financing activities      
Net proceeds from long-term debt 0 1,137 301
Principal payments on long-term debt and nonrecourse debt (524) (548) (252)
Proceeds from borrowings against corporate-owned life insurance policies 0 377 0
Payments on borrowings against corporate-owned life insurance policies 0 (377) 0
Purchases of Textron common stock (921) (183) (503)
Proceeds from exercise of stock options 116 22 24
Dividends paid (18) (18) (18)
Other financing activities, net (2) (17) 9
Net cash provided by (used in) financing activities (1,349) 393 (439)
Effect of exchange rate changes on cash and equivalents (8) 17 4
Net increase (decrease) in cash and equivalents (224) 965 194
Cash and equivalents at beginning of year 2,146 1,181 987
Cash and equivalents at end of year 1,922 2,146 1,181
Finance group      
Cash flows from operating activities      
Income from continuing operations 7 8 22
Non-cash items:      
Depreciation and amortization 10 5 6
Gain on business disposition 0 0 0
Deferred income taxes (4) (5) (2)
Asset impairments and TRU inventory charge 0 0 0
Other, net (9) 10 0
Changes in assets and liabilities:      
Accounts receivable, net 0 0 0
Inventories 0 0 0
Other assets (1) (2) (3)
Accounts payable 0 0 0
Other liabilities 1 (2) 4
Income taxes, net (5) (1) 7
Pension, net 0 0 0
Dividends received from Finance group 0 0 0
Other operating activities, net 0 0 0
Net cash provided by (used in) operating activities of continuing operations (1) 13 34
Net cash used in operating activities of discontinued operations 0 0 0
Net cash provided by (used in) operating activities (1) 13 34
Cash flows from investing activities      
Capital expenditures 0 0 0
Net proceeds from business disposition 0 0 0
Proceeds from an insurance recovery and sale of property, plant and equipment 0 0 0
Net (payments) proceeds from corporate-owned life insurance policies 0 0 0
Net cash used in acquisitions 0 0 0
Finance receivables repaid 250 128 277
Finance receivables originated (100) (195) (184)
Other investing activities, net 35 19 42
Net cash used in investing activities 185 (48) 135
Cash flows from financing activities      
Net proceeds from long-term debt 0 0 0
Principal payments on long-term debt and nonrecourse debt (97) (45) (51)
Proceeds from borrowings against corporate-owned life insurance policies 0 0 0
Payments on borrowings against corporate-owned life insurance policies 0 0 0
Purchases of Textron common stock 0 0 0
Proceeds from exercise of stock options 0 0 0
Dividends paid 0 0 (50)
Other financing activities, net 0 12 (12)
Net cash provided by (used in) financing activities (97) (33) (113)
Effect of exchange rate changes on cash and equivalents 0 0 0
Net increase (decrease) in cash and equivalents 87 (68) 56
Cash and equivalents at beginning of year 108 176 120
Cash and equivalents at end of year $ 195 $ 108 $ 176