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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 30, 2023
Dec. 31, 2022
Jan. 01, 2022
Cash flows from operating activities      
Income from continuing operations $ 922 $ 862 $ 747
Non-cash items:      
Depreciation and amortization 395 397 390
Deferred income taxes (192) (220) 23
Asset impairments 88 2 13
Gain on business disposition 0 0 (17)
Other, net 90 94 88
Changes in assets and liabilities:      
Accounts receivable, net (9) (26) (58)
Inventories (359) (55) 45
Other assets 267 35 (112)
Accounts payable 2 235 13
Other liabilities 276 270 405
Income taxes, net 4 18 11
Pension, net (202) (165) (82)
Captive finance receivables, net (17) 35 131
Other operating activities, net 2 8 2
Net cash provided by (used in) operating activities of continuing operations 1,267 1,490 1,599
Net cash used in operating activities of discontinued operations (1) (2) (1)
Net cash provided by (used in) operating activities 1,266 1,488 1,598
Cash flows from investing activities      
Capital expenditures (402) (354) (375)
Net cash used in acquisitions (1) (202) 0
Net proceeds (payments) from corporate-owned life insurance policies 40 23 (2)
Proceeds from sale of property, plant and equipment and an insurance recovery 18 22 3
Net proceeds from business disposition 0 0 38
Finance receivables repaid 26 20 19
Other investing activities, net 2 44 36
Net cash provided by (used in) investing activities (317) (447) (281)
Cash flows from financing activities      
Decrease in short-term debt 0 (14) (1)
Net proceeds from long-term debt 348 0 0
Principal payments on long-term debt and nonrecourse debt (44) (234) (621)
Purchases of Textron common stock (1,168) (867) (921)
Proceeds from exercise of stock options 73 44 116
Dividends paid (16) (17) (18)
Other financing activities, net (6) (3) (1)
Net cash used in financing activities (813) (1,091) (1,446)
Effect of exchange rate changes on cash and equivalents 10 (32) (8)
Net increase (decrease) in cash and equivalents 146 (82) (137)
Cash and equivalents at beginning of year 2,035 2,117 2,254
Cash and equivalents at end of year $ 2,181 $ 2,035 $ 2,117