TEXTRON INC, 10-Q filed on 4/24/2025
Quarterly Report
v3.25.1
Cover - shares
 3 Months Ended
Mar. 29, 2025
Apr. 11, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 29, 2025  
Document Transition Report false  
Entity File Number 1-5480  
Entity Registrant Name Textron Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 05-0315468  
Entity Address, Address Line One 40 Westminster Street  
Entity Address, City or Town Providence  
Entity Address, State or Province RI  
Entity Address, Postal Zip Code 02903  
City Area Code 401  
Local Phone Number 421-2800  
Title of 12(b) Security Common stock, $0.125 par value  
Trading Symbol TXT  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   180,538,799
Entity Central Index Key 0000217346  
Current Fiscal Year End Date --01-03  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.25.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Revenues    
Total revenues $ 3,306 $ 3,135
Costs, expenses and other    
Research and development costs 132 144
Selling and administrative expense 298 316
Interest expense, net 29 20
Special charges 0  
Non-service components of pension and postretirement income, net (66) (66)
Total costs, expenses and other 3,065 2,898
Income before income taxes 241 237
Income tax expense 34 36
Net income $ 207 $ 201
Earnings per share    
Basic (in dollars per share) $ 1.14 $ 1.04
Diluted (in dollars per share) $ 1.13 $ 1.03
Manufacturing group    
Costs, expenses and other    
Net income $ 199 $ 187
Finance group    
Revenues    
Total revenues 16 15
Costs, expenses and other    
Net income 8 14
Product    
Costs, expenses and other    
Cost of products/services sold 2,277 1,925
Product | Manufacturing group    
Revenues    
Total revenues 2,771 2,432
Service    
Costs, expenses and other    
Cost of products/services sold 395 545
Service | Manufacturing group    
Revenues    
Total revenues $ 519 $ 688
v3.25.1
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Statement of Comprehensive Income [Abstract]    
Net income $ 207 $ 201
Other comprehensive income (loss), net of tax    
Pension and postretirement benefits adjustments, net of reclassifications 0 1
Foreign currency translation adjustments 40 (33)
Deferred losses on hedge contracts, net of reclassifications (1) (5)
Other comprehensive income (loss) 39 (37)
Comprehensive income $ 246 $ 164
v3.25.1
Consolidated Balance Sheets (Unaudited) - USD ($)
shares in Thousands, $ in Millions
Mar. 29, 2025
Dec. 28, 2024
Assets    
Inventories $ 4,270 $ 4,071
Finance receivables, net 610 603
Total assets 16,942 16,838
Liabilities    
Total liabilities 9,667 9,634
Shareholders’ equity    
Common stock 23 23
Capital surplus 2,005 1,960
Treasury stock (299) (82)
Retained earnings 5,811 5,607
Accumulated other comprehensive loss (265) (304)
Total shareholders’ equity 7,275 7,204
Total liabilities and shareholders’ equity $ 16,942 $ 16,838
Common shares outstanding (in shares) 180,578 182,964
Manufacturing group    
Assets    
Cash and equivalents $ 1,194 $ 1,386
Accounts receivable, net 940 949
Inventories 4,270 4,071
Other current assets 829 687
Total current assets 7,233 7,093
Property, plant and equipment, less accumulated depreciation and amortization of $5,564 and $5,471, respectively 2,503 2,529
Goodwill 2,297 2,288
Other assets 4,230 4,248
Cash and equivalents 1,194 1,386
Total assets 16,263 16,158
Liabilities    
Current portion of long-term debt 356 357
Accounts payable 1,117 943
Other current liabilities 2,916 3,094
Total current liabilities 4,389 4,394
Other liabilities 1,840 1,945
Long-term debt 3,038 2,890
Total liabilities 9,267 9,229
Finance group    
Assets    
Cash and equivalents 51 55
Cash and equivalents 51 55
Finance receivables, net 610 603
Other assets 18 22
Total assets 679 680
Liabilities    
Other liabilities 60 64
Debt 340 341
Total liabilities $ 400 $ 405
v3.25.1
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Statement of Financial Position [Abstract]    
Accumulated depreciation and amortization $ 5,564 $ 5,471
v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Cash flows from operating activities    
Net income $ 207 $ 201
Non-cash items:    
Depreciation and amortization 92 88
Deferred income taxes (22) (16)
Other, net 41 33
Changes in assets and liabilities:    
Accounts receivable, net 16 (34)
Inventories (183) (350)
Other assets (136) 100
Accounts payable 171 121
Other liabilities (282) (159)
Income taxes, net 39 39
Pension, net (59) (56)
Captive finance receivables, net (13) 22
Other operating activities, net 5 4
Net cash provided by (used in) operating activities (124) (7)
Cash flows from investing activities    
Capital expenditures (56) (66)
Net proceeds from corporate-owned life insurance policies 31 3
Proceeds from sale of property, plant and equipment 0 3
Finance receivables repaid 9 8
Finance receivables originated 0 (11)
Other investing activities, net 15 0
Net cash provided by (used in) investing activities (1) (63)
Cash flows from financing activities    
Proceeds from issuance of debt 495 0
Principal payments on long-term debt and nonrecourse debt (355) (365)
Purchases of Textron common stock (215) (317)
Proceeds from options exercised 6 63
Dividends paid (3) (4)
Other financing activities, net (6) (14)
Net cash used in financing activities (78) (637)
Effect of exchange rate changes on cash and equivalents 7 (8)
Net increase (decrease) in cash and equivalents (196) (715)
Cash and equivalents at beginning of period 1,441 2,181
Cash and equivalents at end of period $ 1,245 $ 1,466
v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - Manufacturing Group and Finance Group - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Cash flows from operating activities    
Net income $ 207 $ 201
Non-cash items:    
Depreciation and amortization 92 88
Deferred income taxes (22) (16)
Other, net 41 33
Changes in assets and liabilities:    
Accounts receivable, net 16 (34)
Inventories (183) (350)
Other assets (136) 100
Accounts payable 171 121
Other liabilities (282) (159)
Income taxes, net 39 39
Pension, net (59) (56)
Other operating activities, net 5 4
Net cash provided by (used in) operating activities (124) (7)
Cash flows from investing activities    
Capital expenditures (56) (66)
Net proceeds from corporate-owned life insurance policies 31 3
Proceeds from sale of property, plant and equipment 0 3
Finance receivables repaid 9 8
Finance receivables originated 0 (11)
Other investing activities, net 15 0
Net cash provided by (used in) investing activities (1) (63)
Cash flows from financing activities    
Proceeds from issuance of debt 495 0
Principal payments on long-term debt and nonrecourse debt (355) (365)
Purchases of Textron common stock (215) (317)
Proceeds from options exercised 6 63
Dividends paid (3) (4)
Other financing activities, net (6) (14)
Net cash used in financing activities (78) (637)
Effect of exchange rate changes on cash and equivalents 7 (8)
Net increase (decrease) in cash and equivalents (196) (715)
Cash and equivalents at beginning of period 1,441 2,181
Cash and equivalents at end of period 1,245 1,466
Manufacturing group    
Cash flows from operating activities    
Net income 199 187
Non-cash items:    
Depreciation and amortization 92 88
Deferred income taxes (23) (16)
Other, net 42 44
Changes in assets and liabilities:    
Accounts receivable, net 16 (34)
Inventories (183) (350)
Other assets (136) 100
Accounts payable 171 121
Other liabilities (276) (153)
Income taxes, net 38 35
Pension, net (59) (56)
Other operating activities, net 5 4
Net cash provided by (used in) operating activities (114) (30)
Cash flows from investing activities    
Capital expenditures (56) (66)
Net proceeds from corporate-owned life insurance policies 31 3
Proceeds from sale of property, plant and equipment 0 3
Finance receivables repaid 0 0
Finance receivables originated 0 0
Other investing activities, net 15 0
Net cash provided by (used in) investing activities (10) (60)
Cash flows from financing activities    
Proceeds from issuance of debt 495 0
Principal payments on long-term debt and nonrecourse debt (352) (352)
Purchases of Textron common stock (215) (317)
Proceeds from options exercised 6 63
Dividends paid (3) (4)
Other financing activities, net (6) (25)
Net cash used in financing activities (75) (635)
Effect of exchange rate changes on cash and equivalents 7 (8)
Net increase (decrease) in cash and equivalents (192) (733)
Cash and equivalents at beginning of period 1,386 2,121
Cash and equivalents at end of period 1,194 1,388
Finance group    
Cash flows from operating activities    
Net income 8 14
Non-cash items:    
Depreciation and amortization 0 0
Deferred income taxes 1 0
Other, net (1) (11)
Changes in assets and liabilities:    
Accounts receivable, net 0 0
Inventories 0 0
Other assets 0 0
Accounts payable 0 0
Other liabilities (6) (6)
Income taxes, net 1 4
Pension, net 0 0
Other operating activities, net 0 0
Net cash provided by (used in) operating activities 3 1
Cash flows from investing activities    
Capital expenditures 0 0
Net proceeds from corporate-owned life insurance policies 0 0
Proceeds from sale of property, plant and equipment 0 0
Finance receivables repaid 29 47
Finance receivables originated (33) (28)
Other investing activities, net 0 0
Net cash provided by (used in) investing activities (4) 19
Cash flows from financing activities    
Proceeds from issuance of debt 0 0
Principal payments on long-term debt and nonrecourse debt (3) (13)
Purchases of Textron common stock 0 0
Proceeds from options exercised 0 0
Dividends paid 0 0
Other financing activities, net 0 11
Net cash used in financing activities (3) (2)
Effect of exchange rate changes on cash and equivalents 0 0
Net increase (decrease) in cash and equivalents (4) 18
Cash and equivalents at beginning of period 55 60
Cash and equivalents at end of period $ 51 $ 78
v3.25.1
Basis of Presentation
 3 Months Ended
Mar. 29, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation Basis of Presentation
Our Consolidated Financial Statements include the accounts of Textron Inc. (Textron) and its majority-owned subsidiaries.  We have prepared these unaudited consolidated financial statements in accordance with accounting principles generally accepted in the U.S. for interim financial information. Accordingly, these interim financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the U.S. for complete financial statements. The consolidated interim financial statements included in this quarterly report should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 28, 2024.  In the opinion of management, the interim financial statements reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for the fair presentation of our consolidated financial position, results of operations and cash flows for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year.
Our financings are conducted through two separate borrowing groups. The Manufacturing group consists of Textron consolidated with its majority-owned subsidiaries that operate in the Textron Aviation, Bell, Textron Systems, Industrial and Textron eAviation segments. The Finance group, which also is the Finance segment, consists of Textron Financial Corporation and its consolidated subsidiaries. We designed this framework to enhance our borrowing power by separating the Finance group. Our Manufacturing group operations include the development, production and delivery of tangible goods and services, while our Finance group provides financial services. Due to the fundamental differences between each borrowing group’s activities, investors, rating agencies and analysts use different measures to evaluate each group’s performance. To support those evaluations, we present balance sheet and cash flow information for each borrowing group within the Consolidated Financial Statements. All significant intercompany transactions are eliminated from the Consolidated Financial Statements, including retail financing activities for inventory sold by our Manufacturing group and financed by our Finance group.
Use of Estimates
We prepare our financial statements in conformity with generally accepted accounting principles, which require us to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates. Our estimates and assumptions are reviewed periodically, and the effects of changes, if any, are reflected in the Consolidated Statements of Operations in the period that they are determined.
Contract Estimates
For contracts where revenue is recognized over time, we recognize changes in estimated contract revenues, costs and profits using the cumulative catch-up method of accounting. This method recognizes the cumulative effect of changes on current and prior periods with the impact of the change from inception-to-date recorded in the current period. Anticipated losses on contracts are recognized in full in the period in which the losses become probable and estimable.  
In the first quarter of 2025 and 2024, our cumulative catch-up adjustments increased segment profit by $17 million and $13 million, respectively, and net income by $13 million and $10 million, respectively ($0.07 and $0.05 per diluted share, respectively).
v3.25.1
Accounts Receivable and Finance Receivables
 3 Months Ended
Mar. 29, 2025
Receivables [Abstract]  
Accounts Receivable and Finance Receivables Accounts Receivable and Finance Receivables
Accounts Receivable
Accounts receivable is composed of the following:
(In millions)March 29,
2025		December 28,
2024
Commercial$792 $738 
U.S. Government contracts167 230 
959 968 
Allowance for credit losses(19)(19)
Total accounts receivable, net$940 $949 
Finance Receivables
Finance receivables are presented in the following table:
(In millions)March 29,
2025		December 28,
2024
Finance receivables$629 $622 
Allowance for credit losses(19)(19)
Total finance receivables, net$610 $603 
Finance Receivable Portfolio Quality
We internally assess the quality of our finance receivables based on a number of key credit quality indicators and statistics such as delinquency, loan balance to estimated collateral value and the financial strength of individual borrowers and guarantors. Because many of these indicators are difficult to apply across an entire class of receivables, we evaluate individual loans on a quarterly basis and classify these loans into three categories based on the key credit quality indicators for the individual loan. These three categories are performing, watchlist and nonaccrual.
We classify finance receivables as nonaccrual if credit quality indicators suggest full collection of principal and interest is doubtful. In addition, we automatically classify accounts as nonaccrual once they are contractually delinquent by more than three months unless collection of principal and interest is not doubtful. Accounts are classified as watchlist when credit quality indicators have deteriorated as compared with typical underwriting criteria, and we believe collection of full principal and interest is probable but not certain. All other finance receivables that do not meet the watchlist or nonaccrual categories are classified as performing.
We measure delinquency based on the contractual payment terms of our finance receivables.  In determining the delinquency aging category of an account, any/all principal and interest received is applied to the most past-due principal and/or interest amounts due. If a significant portion of the contractually due payment is delinquent, the entire finance receivable balance is reported in accordance with the most past-due delinquency aging category.
Finance receivables categorized based on the credit quality indicators and by the delinquency aging category are summarized as follows:
(Dollars in millions)March 29,
2025		December 28,
2024
Performing$626$612
Nonaccrual310
Nonaccrual as a percentage of finance receivables0.48%1.61%
Current and less than 31 days past due$623$609
31-60 days past due613
60+ days contractual delinquency as a percentage of finance receivables—%—%
At March 29, 2025, 40% of our performing finance receivables were originated since the beginning of 2023 and 25% were originated from 2020 to 2022 with the remainder prior to 2020. For finance receivables categorized as nonaccrual, 100% were originated prior to 2020.
On a quarterly basis, we evaluate individual larger balance accounts for impairment. A finance receivable is considered impaired when it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement based on our review of the credit quality indicators described above. Impaired finance receivables include both nonaccrual accounts and accounts for which full collection of principal and interest remains probable, but the account’s original terms have been, or are expected to be, significantly modified.  If the modification specifies an interest rate equal to or greater than a market rate for a finance receivable with comparable risk, the account is not considered impaired in years subsequent to the modification. Our impaired finance receivables were insignificant at March 29, 2025 and December 28, 2024.
v3.25.1
Inventories
 3 Months Ended
Mar. 29, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories are composed of the following:
(In millions)March 29,
2025		December 28,
2024
Finished goods$1,164 $1,138 
Work in process1,954 1,769 
Raw materials and components1,152 1,164 
Total inventories$4,270 $4,071 
v3.25.1
Accounts Payable and Warranty Liability
 3 Months Ended
Mar. 29, 2025
Payables and Accruals [Abstract]  
Accounts Payable and Warranty Liability Accounts Payable and Warranty Liability
Accounts Payable
Supplier Financing Arrangement
We have a financing arrangement with one of our suppliers for a maximum amount of $200 million that extends payment terms for up to 190 days from the receipt of goods and provides for the supplier to be paid by a financial institution earlier than maturity. This financing arrangement expires in April 2027. At March 29, 2025 and December 28, 2024, the amount due under the supplier financing arrangement was $91 million and $50 million, respectively.
Warranty Liability
Changes in our current and non-current warranty liability are as follows:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Beginning of period$173 $172 
Provision17 17 
Settlements(16)(18)
Adjustments*(1)(1)
End of period$173 $170 
* Adjustments include changes to prior year estimates, new issues on prior year sales and currency translation adjustments.
v3.25.1
Leases
 3 Months Ended
Mar. 29, 2025
Leases [Abstract]  
Leases Leases
We primarily lease certain manufacturing plants, offices, warehouses, training and service centers at various locations worldwide that are classified as either operating or finance leases. Our leases have remaining lease terms up to 24 years, which include options to extend the lease term for periods up to 20 years when it is reasonably certain the option will be exercised.
Operating lease cost totaled $18 million in both the first quarter of 2025 and 2024. Cash paid for operating leases approximated the lease cost and is classified in cash flows from operating activities. Noncash transactions related to operating leases totaled $7 million and $25 million in the first quarter of 2025 and 2024, respectively, reflecting new or extended leases. Finance lease, variable and short-term lease costs were not significant.
Balance sheet and other information related to our leases is as follows:
(Dollars in millions)March 29,
2025		December 28,
2024
Operating leases:
Other assets$355$360
Other current liabilities5455
Other liabilities313316
Weighted-average remaining lease term (in years)9.910.0
Weighted-average discount rate4.89%4.84%
Finance leases:
Property, plant and equipment, less accumulated amortization
  of $11 million and $9 million, respectively
$97$95
Long-term debt, including current portion9997
Weighted-average remaining lease term (in years)6.85.9
Weighted-average discount rate6.65%6.72%
At March 29, 2025, maturities of our operating lease liabilities on an undiscounted basis totaled $53 million for the remainder of 2025, $59 million for 2026, $49 million for 2027, $46 million for 2028, $41 million for 2029 and $222 million thereafter.
Leases Leases
We primarily lease certain manufacturing plants, offices, warehouses, training and service centers at various locations worldwide that are classified as either operating or finance leases. Our leases have remaining lease terms up to 24 years, which include options to extend the lease term for periods up to 20 years when it is reasonably certain the option will be exercised.
Operating lease cost totaled $18 million in both the first quarter of 2025 and 2024. Cash paid for operating leases approximated the lease cost and is classified in cash flows from operating activities. Noncash transactions related to operating leases totaled $7 million and $25 million in the first quarter of 2025 and 2024, respectively, reflecting new or extended leases. Finance lease, variable and short-term lease costs were not significant.
Balance sheet and other information related to our leases is as follows:
(Dollars in millions)March 29,
2025		December 28,
2024
Operating leases:
Other assets$355$360
Other current liabilities5455
Other liabilities313316
Weighted-average remaining lease term (in years)9.910.0
Weighted-average discount rate4.89%4.84%
Finance leases:
Property, plant and equipment, less accumulated amortization
  of $11 million and $9 million, respectively
$97$95
Long-term debt, including current portion9997
Weighted-average remaining lease term (in years)6.85.9
Weighted-average discount rate6.65%6.72%
At March 29, 2025, maturities of our operating lease liabilities on an undiscounted basis totaled $53 million for the remainder of 2025, $59 million for 2026, $49 million for 2027, $46 million for 2028, $41 million for 2029 and $222 million thereafter.
v3.25.1
Debt
 3 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
Debt DebtUnder our shelf registration statement, on February 13, 2025, we issued $500 million of SEC-registered fixed-rate notes due in May 2035 with an annual interest rate of 5.50%. The net proceeds of the issuance totaled $495 million, after deducting underwriting discounts, commissions and offering expenses.
v3.25.1
Derivative Instruments and Fair Value Measurements
 3 Months Ended
Mar. 29, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Fair Value Measurements Derivative Instruments and Fair Value Measurements
We measure fair value at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We prioritize the assumptions that market participants would use in pricing the asset or liability into a three-tier fair value hierarchy. This fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets for identical assets or liabilities and the lowest priority (Level 3) to unobservable inputs in which little or no market data exist, requiring companies to develop their own assumptions. Observable inputs that do not meet the criteria of Level 1, which include quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets and liabilities in markets that are not active, are categorized as Level 2. Level 3 inputs are those that reflect our estimates about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. Valuation techniques for assets and liabilities measured using Level 3 inputs may include methodologies such as the market approach, the income approach or the cost approach and may use unobservable inputs such as projections, estimates and management’s interpretation of current market data. These unobservable inputs are utilized only to the extent that observable inputs are not available or cost effective to obtain.
Assets and Liabilities Recorded at Fair Value on a Recurring Basis
We manufacture and sell our products in a number of countries throughout the world, and, therefore, we are exposed to movements in foreign currency exchange rates. We primarily utilize foreign currency exchange contracts with maturities of no more than three years to manage this volatility. These contracts qualify as cash flow hedges and are intended to offset the effect of exchange rate fluctuations on forecasted sales, inventory purchases and overhead expenses. Net gains and losses recognized in earnings and Accumulated other comprehensive loss on cash flow hedges, including gains and losses related to hedge ineffectiveness, were not significant in the periods presented.
Our foreign currency exchange contracts are measured at fair value using the market method valuation technique. The inputs to this technique utilize current foreign currency exchange forward market rates published by third-party leading financial news and data providers. These are observable data that represent the rates that the financial institution uses for contracts entered into at that date; however, they are not based on actual transactions, so they are classified as Level 2. At March 29, 2025 and December 28, 2024, we had foreign currency exchange contracts with notional amounts upon which the contracts were based of $683 million and $464 million, respectively. At March 29, 2025, the fair value amounts of our foreign currency exchange contracts were a $6 million asset and a $16 million liability. At December 28, 2024, the fair value amount of our foreign currency exchange contracts were a $5 million asset and a $19 million liability.
Our Finance group enters into interest rate swap agreements to mitigate certain exposures to fluctuations in interest rates. By using these contracts, we are able to convert floating-rate cash flows to fixed-rate cash flows. These agreements are designated as cash flow hedges. The fair value of our interest rate swap agreements is determined using values published by third-party leading financial news and data providers. These values are observable data that represent the value that financial institutions use for contracts entered into at that date, but are not based on actual transactions, so they are classified as Level 2. The fair value of our outstanding interest rate swap agreements was a $4 million and an $8 million asset at March 29, 2025 and December 28, 2024, respectively.
At March 29, 2025 and December 28, 2024, our Finance group had interest rate swap agreements related to our Floating Rate Junior Subordinated Notes for an aggregate notional amount of $264 million that effectively converts the variable-rate interest for these Notes to a weighted-average fixed rate of 5.20%. These agreements have maturities ranging from August 2025 to August 2029. At March 29, 2025 and December 28, 2024, we also had a swap agreement related to these Notes with a notional amount of $30 million and a weighted-average fixed rate of 5.10% that has a forward start date of August 15, 2025 and matures on August 15, 2030.
Assets and Liabilities Not Recorded at Fair Value
The carrying value and estimated fair value of our financial instruments that are not reflected in the financial statements at fair value are as follows:
March 29, 2025December 28, 2024
CarryingEstimatedCarryingEstimated
(In millions)ValueFair ValueValueFair Value
Manufacturing group
Debt, excluding leases$(3,313)$(3,176)$(3,164)$(2,989)
Finance group
Finance receivables, excluding leases452 466 439 454 
Debt(340)(317)(341)(311)
Fair value for the Manufacturing group debt is determined using market observable data for similar transactions (Level 2).  The fair value for the Finance group debt was determined primarily based on discounted cash flow analyses using observable market inputs from debt with similar duration, subordination and credit default expectations (Level 2). Fair value estimates for finance receivables were determined based on internally developed discounted cash flow models primarily utilizing significant unobservable inputs (Level 3), which include estimates of the rate of return, financing cost, capital structure and/or discount rate expectations of current market participants combined with estimated loan cash flows based on credit losses, payment rates and expectations of borrowers’ ability to make payments on a timely basis.
v3.25.1
Shareholders' Equity
 3 Months Ended
Mar. 29, 2025
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
A reconciliation of Shareholders’ equity is presented below:
(In millions)Common
Stock		Capital
Surplus		Treasury
Stock		Retained
Earnings		Accumulated
Other
Comprehensive
Loss		Total
Shareholders'
Equity
Three months ended March 29, 2025
Beginning of period$23 $1,960 $(82)$5,607 $(304)$7,204 
Net income— — — 207 — 207 
Other comprehensive income— — — — 39 39 
Share-based compensation activity— 45 — — — 45 
Dividends declared— — — (3)— (3)
Purchases of common stock, including excise tax*— — (217)— — (217)
End of period$23 $2,005 $(299)$5,811 $(265)$7,275 
Three months ended March 30, 2024
Beginning of period$24 $1,910 $(165)$5,862 $(644)$6,987 
Net income— — — 201 — 201 
Other comprehensive loss— — — — (37)(37)
Share-based compensation activity1 102 — — — 103 
Dividends declared— — — (4)— (4)
Purchases of common stock, including excise tax*— — (319)— — (319)
End of period$25 $2,012 $(484)$6,059 $(681)$6,931 
*Includes amounts accrued for excise tax imposed on common share repurchases that totaled $2 million for both the first quarter of 2025 and 2024.
Dividends per share of common stock were $0.02 for both the first quarter of 2025 and 2024.
Earnings Per Share
We calculate basic and diluted earnings per share (EPS) based on net income, which approximates income available to common shareholders for each period.  Basic EPS is calculated using the two-class method, which includes the weighted-average number of common shares outstanding during the period and restricted stock units to be paid in stock that are deemed participating securities as they provide nonforfeitable rights to dividends. Diluted EPS considers the dilutive effect of all potential future common stock, including stock options.  
The weighted-average shares outstanding for basic and diluted EPS are as follows:
Three Months Ended
(In thousands)March 29,
2025		March 30,
2024
Basic weighted-average shares outstanding182,378 192,800 
Dilutive effect of stock options1,290 2,060 
Diluted weighted-average shares outstanding183,668 194,860 
In the first quarter of 2025 and 2024, stock options to purchase 2.1 million and 1.0 million shares, respectively, of common stock were excluded from the calculation of diluted weighted-average shares outstanding as their effect would have been anti-dilutive.
Accumulated Other Comprehensive Loss and Other Comprehensive Income (Loss)
The components of Accumulated other comprehensive loss are presented below:
(In millions)Pension and
Postretirement
Benefits
Adjustments		Foreign
Currency
Translation
Adjustments		Deferred
Gains (Losses)
on Hedge
Contracts		Accumulated
Other
Comprehensive
Loss
Balance at December 28, 2024$(179)$(120)$(5)$(304)
Other comprehensive income before reclassifications— 40 (2)38 
Reclassified from Accumulated other comprehensive loss— — 1 1 
Balance at March 29, 2025$(179)$(80)$(6)$(265)
Balance at December 30, 2023$(598)$(49)$3 $(644)
Other comprehensive loss before reclassifications— (33)(5)(38)
Reclassified from Accumulated other comprehensive loss1 — — 1 
Balance at March 30, 2024$(597)$(82)$(2)$(681)
The before and after-tax components of Other comprehensive income (loss) are presented below:
March 29, 2025March 30, 2024
(In millions)Pre-Tax
Amount		Tax
(Expense)
Benefit		After-tax
Amount		Pre-Tax
Amount		Tax
(Expense)
Benefit		After-tax
Amount
Three Months Ended
Pension and postretirement benefits adjustments:
Amortization of net actuarial gain*$(2)$— $(2)$(1)$— $(1)
Amortization of prior service cost*2 — 2 2 — 2 
Pension and postretirement benefits adjustments, net— — — 1 — 1 
Foreign currency translation adjustments40 — 40 (33)— (33)
Deferred losses on hedge contracts:
Current deferrals(3)1 (2)(7)2 (5)
Reclassification adjustments2 (1)1 (1)1 — 
Deferred losses on hedge contracts, net(1)— (1)(8)3 (5)
Total$39 $— $39 $(40)$3 $(37)
*These components of other comprehensive income (loss) are included in the computation of net periodic pension cost (income). See Note 14 of our 2024 Annual Report on Form 10-K for additional information.
v3.25.1
Segment Financial Information
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Segment Financial Information Segment Financial Information
We operate in, and report financial information for, the following six operating segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation and Finance. Segment profit for the manufacturing segments excludes the non-service components of pension and postretirement income, net; LIFO inventory provision; intangible asset amortization; interest expense, net for Manufacturing group; certain corporate expenses; gains/losses on major business dispositions; and special charges. The measurement for the Finance segment includes interest income and expense along with intercompany interest income and expense.
Our revenues and expenses by segment are provided below:
(In millions)Textron AviationBellTextron SystemsIndustrialTextron eAviationFinanceTotal
Three months ended March 29, 2025
Revenues$1,212 $983 $296 $792 $7 $16 $3,306 
Costs and expenses:
Cost of sales929 803 219 678 6 — 2,635 
Research and development costs57 39 8 14 14 — 132 
Selling and administrative expense99 51 29 70 4 2 255 
Interest expense, net— — — — — 4 4 
Segment profit (loss)$127 $90 $40 $30 $(17)$10 $280 
Three months ended March 30, 2024
Revenues$1,188 $727 $306 $892 $7 $15 $3,135 
Costs and expenses:
Cost of sales891 565 222 758 6 — 2,442 
Research and development costs52 39 18 20 15 — 144 
Selling and administrative expense102 43 28 85 4 (8)254 
Interest expense, net— — — — — 5 5 
Segment profit (loss)$143 $80 $38 $29 $(18)$18 $290 
A reconciliation of segment profit to income before income taxes, is presented below:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Segment profit$280 $290 
Unallocated amounts:
Corporate expenses and other, net(43)(62)
Interest expense, net for Manufacturing group(25)(15)
LIFO inventory provision(29)(20)
Intangible asset amortization(8)(8)
Special charges— (14)
Non-service components of pension and postretirement income, net66 66 
Income before income taxes$241 $237 
Other information by segment is provided below:
Capital ExpendituresDepreciation and Amortization
Three Months EndedThree Months Ended
(In millions)March 29,
2025		March 30,
2024		March 29,
2025		March 30,
2024
Textron Aviation$25 $27 $37 $36 
Bell15 19 22 19 
Textron Systems5 8 12 11 
Industrial10 11 17 18 
Textron eAviation1 1 2 2 
Corporate— — 2 2 
Total$56 $66 $92 $88 
Our assets by segment are summarized below:
(In millions)March 29,
2025		December 28,
2024
Textron Aviation$4,795 $4,624 
Bell3,073 2,992 
Textron Systems2,045 2,036 
Industrial2,413 2,378 
Textron eAviation294 286 
Finance679 680 
Corporate3,643 3,842 
Total assets$16,942 $16,838 
v3.25.1
Revenues
 3 Months Ended
Mar. 29, 2025
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Disaggregation of Revenues
Our revenues disaggregated by major product type are presented below:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Aircraft$729 $732 
Aftermarket parts and services483 456 
Textron Aviation$1,212 $1,188 
Military aircraft and support programs634 480 
Commercial helicopters, parts and services349 247 
Bell$983 $727 
Textron Systems$296 $306 
Fuel systems and functional components450 488 
Specialized vehicles342 404 
Industrial$792 $892 
Textron eAviation$7 $7 
Finance$16 $15 
Total revenues$3,306 $3,135 
Our revenues for our segments by customer type and geographic location are presented below:
(In millions)Textron
Aviation		BellTextron
Systems		IndustrialTextron eAviationFinanceTotal
Three months ended March 29, 2025
Customer type:
Commercial$1,143 $361 $70 $785 $7 $16 $2,382 
U.S. Government69 622 226 7 — — 924 
Total revenues$1,212 $983 $296 $792 $7 $16 $3,306 
Geographic location:
United States$912 $682 $269 $408 $3 $4 $2,278 
Europe86 56 12 164 3 — 321 
Other international214 245 15 220 1 12 707 
Total revenues$1,212 $983 $296 $792 $7 $16 $3,306 
Three months ended March 30, 2024
Customer type:
Commercial$1,155 $239 $72 $884 $7 $15 $2,372 
U.S. Government33 488 234 8 — — 763 
Total revenues$1,188 $727 $306 $892 $7 $15 $3,135 
Geographic location:
United States$950 $559 $274 $460 $4 $4 $2,251 
Europe62 23 13 198 2 5 303 
Other international176 145 19 234 1 6 581 
Total revenues$1,188 $727 $306 $892 $7 $15 $3,135 
Remaining Performance Obligations
Our remaining performance obligations, which is the equivalent of our backlog, represent the expected transaction price allocated to our contracts that we expect to recognize as revenues in future periods when we perform under the contracts.  These remaining obligations exclude unexercised contract options and potential orders under ordering-type contracts such as Indefinite Delivery, Indefinite Quantity contracts. At March 29, 2025, we had $17.2 billion in remaining performance obligations of which we expect to recognize revenues of approximately 78% through 2026, an additional 18% through 2028, and the balance thereafter.  
Contract Assets and Liabilities
Assets and liabilities related to our contracts with customers are reported on a contract-by-contract basis at the end of each reporting period. At March 29, 2025 and December 28, 2024, contract assets totaled $478 million and $345 million, respectively, and contract liabilities totaled $1.9 billion at both dates, reflecting timing differences between revenues recognized, billings and payments from customers. We recognized revenues of $340 million and $327 million in the first quarter of 2025 and 2024, respectively, that were included in the contract liability balance at the beginning of each year.
v3.25.1
Share-Based Compensation
 3 Months Ended
Mar. 29, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
Under our share-based compensation plan, we have authorization to provide awards to selected employees and non-employee directors in the form of stock options, restricted stock, restricted stock units, stock appreciation rights, performance stock, performance share units and other awards.  Compensation expense included in net income for our share-based compensation plans is as follows:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Compensation expense$34 $77 
Income tax benefit(8)(19)
Total compensation expense included in net income$26 $58 
Compensation expense included stock option expense of $13 million and $15 million in the first quarter of 2025 and 2024, respectively. We typically grant stock appreciation rights to selected non-U.S. employees. At March 29, 2025, outstanding stock appreciation rights totaled 446,753 with a weighted-average exercise price of $66.21 and a weighted-average remaining contractual life of 6.6 years; these units had an intrinsic value of $4 million, compared with $14 million at March 30, 2024.
Stock Options
Options to purchase our shares have a maximum term of ten years and generally vest ratably over a three-year period. Stock option compensation cost is calculated under the fair value approach using the Black-Scholes option-pricing model to determine the fair value of options granted on the date of grant. The expected volatility used in this model is based on historical volatilities and implied volatilities from traded options on our common stock.  The expected term is based on historical option exercise data, which is adjusted to reflect any anticipated changes in expected behavior.
We grant options annually on the first day of March. The assumptions used in our option-pricing model for these grants and the weighted-average fair value for these options are as follows:
March 1,
2025		March 1,
2024
Fair value of options at grant date$22.01$27.69 
Dividend yield0.1%0.1%
Expected volatility25.1%27.2%
Risk-free interest rate4.1%4.3%
Expected term (in years)4.84.8
The stock option activity during the first quarter of 2025 is provided below:
(Options in thousands)Number of
Options		Weighted-
Average
Exercise Price
Outstanding at December 28, 20246,649 $61.70 
Granted995 74.73 
Exercised(158)(46.73)
Forfeited or expired(21)(79.48)
Outstanding at March 29, 20257,465 $63.71 
Exercisable at March 29, 20255,354 $57.77 
At March 29, 2025, our outstanding options had an aggregate intrinsic value of $87 million and a weighted-average remaining contractual life of 6.0 years. Our exercisable options had an aggregate intrinsic value of $87 million and a weighted-average remaining contractual life of 4.8 years at March 29, 2025.  The total intrinsic value of options exercised during the first quarter of 2025 and 2024 was $4 million and $60 million, respectively.
Restricted Stock Units
We issue restricted stock units that include the right to receive dividend equivalents and are settled in either cash or stock. Grants of restricted stock units vest in full on the third anniversary of the grant date. Compensation cost is determined using the fair value of these units based on the trading price of our common stock. For units payable in stock, we use the trading price on the grant date, while units payable in cash are remeasured using the price at each reporting period date.
The activity for restricted stock units during the first quarter of 2025 is provided below:
Units Payable in StockUnits Payable in Cash
(Shares/Units in thousands)Number of
Shares		Weighted-
Average Grant
Date Fair Value		Number of
Units		Weighted-
Average Grant
Date Fair Value
Outstanding at December 28, 2024, nonvested331 $75.50 631 $77.75 
Granted96 74.73 244 74.87 
Vested(81)(71.07)(192)(71.07)
Forfeited— — (8)(77.79)
Outstanding at March 29, 2025, nonvested346 $76.32 675 $78.61 
The fair value of the restricted stock unit awards that vested and/or amounts paid under these awards is as follows:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Fair value of awards vested$20 $41 
Cash paid14 33 
Performance Share Units
The activity for our performance share units during the first quarter of 2025 is as follows:
(Units in thousands)Number of
Units		Weighted-
Average Grant
Date Fair Value
Outstanding at December 28, 2024, nonvested394 $80.81 
Granted199 74.73 
Outstanding at March 29, 2025, nonvested593 $78.77 
Cash paid under these awards totaled $16 million and $35 million in the first quarter of 2025 and 2024, respectively.
v3.25.1
Retirement Plans
 3 Months Ended
Mar. 29, 2025
Retirement Benefits [Abstract]  
Retirement Plans Retirement Plans
We provide defined benefit pension plans and other postretirement benefits to eligible employees.  The components of net periodic benefit (income) cost for these plans are as follows:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Pension Benefits
Service cost$16 $17 
Interest cost94 90 
Expected return on plan assets(162)(159)
Amortization of net actuarial loss— 1 
Amortization of prior service cost2 2 
Net periodic benefit income*$(50)$(49)
Postretirement Benefits Other Than Pensions
Interest cost$2 $2 
Amortization of net actuarial gain(2)(2)
Net periodic benefit (income) cost$— $— 
* Excludes the cost associated with the defined contribution component, included in certain of our U.S.-based defined benefit pension plans, that totaled $3 million and $4 million for the first quarter of 2025 and 2024, respectively.
v3.25.1
Special Charges
 3 Months Ended
Mar. 29, 2025
Restructuring and Related Activities [Abstract]  
Special Charges Special Charges
In the first quarter of 2024, we recognized special charges of $14 million related to a 2023 restructuring plan. There were no special charges recorded in the first quarter of 2025.
Our restructuring reserve activity is summarized below:
(In millions)Severance
Costs		Contract
Terminations
and Other		Total
Balance at December 28, 2024$37 $34 $71 
Cash paid(7)(12)(19)
Foreign currency translation1 — 1 
Balance at March 29, 2025$31 $22 $53 
v3.25.1
Income Taxes
 3 Months Ended
Mar. 29, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesOur effective tax rate for the first quarter of 2025 and 2024 was 14.1% and 15.2%, respectively. In the first quarter of 2025, the effective tax rate was lower than the U.S. federal statutory rate of 21%, largely due to the favorable impact of research and development credits and tax deductions for foreign-derived intangible income. In the first quarter of 2024, the effective tax rate was lower than the U.S. federal statutory rate of 21%, largely due to the recognition of excess tax benefits related to share-based compensation, the favorable impact of research and development credits, and tax deductions for foreign-derived intangible income.
v3.25.1
Commitments and Contingencies
 3 Months Ended
Mar. 29, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
We are subject to actual and threatened legal proceedings and other claims arising out of the conduct of our business, including proceedings and claims relating to commercial and financial transactions; government contracts; alleged lack of compliance with applicable laws and regulations; disputes with suppliers, production partners or other third parties; product liability; patent and trademark infringement; employment disputes; and environmental, health and safety matters. Some of these legal proceedings and claims seek damages, fines or penalties in substantial amounts or remediation of environmental contamination. As a government contractor, we are subject to audits, reviews and investigations to determine whether our operations are being conducted in accordance with applicable regulatory requirements. Under federal government procurement regulations, certain claims brought by the U.S. Government could result in our suspension or debarment from U.S. Government contracting for a period of time. On the basis of information presently available, we do not believe that existing proceedings and claims will have a material effect on our financial position or results of operations.
v3.25.1
Subsequent Event
 3 Months Ended
Mar. 29, 2025
Subsequent Events [Abstract]  
Subsequent Event Subsequent EventWithin the Industrial segment, we have completed the previously announced strategic review of the Powersports product line. On April 23, 2025, we closed on the sale of the Powersports business, including the Arctic Cat brand and its operations. The proceeds and estimated after-tax gain on this transaction will be reported in the second quarter of 2025 and are not expected to be material.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Pay vs Performance Disclosure    
Net income $ 207 $ 201
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 29, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.1
Basis of Presentation (Policies)
 3 Months Ended
Mar. 29, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Use of Estimates
Use of Estimates
We prepare our financial statements in conformity with generally accepted accounting principles, which require us to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates. Our estimates and assumptions are reviewed periodically, and the effects of changes, if any, are reflected in the Consolidated Statements of Operations in the period that they are determined.
v3.25.1
Accounts Receivable and Finance Receivables (Tables)
 3 Months Ended
Mar. 29, 2025
Receivables [Abstract]  
Accounts Receivable
Accounts receivable is composed of the following:
(In millions)March 29,
2025		December 28,
2024
Commercial$792 $738 
U.S. Government contracts167 230 
959 968 
Allowance for credit losses(19)(19)
Total accounts receivable, net$940 $949 
Finance Receivables
Finance receivables are presented in the following table:
(In millions)March 29,
2025		December 28,
2024
Finance receivables$629 $622 
Allowance for credit losses(19)(19)
Total finance receivables, net$610 $603 
Finance Receivables Categorized Based On Credit Quality Indicators
Finance receivables categorized based on the credit quality indicators and by the delinquency aging category are summarized as follows:
(Dollars in millions)March 29,
2025		December 28,
2024
Performing$626$612
Nonaccrual310
Nonaccrual as a percentage of finance receivables0.48%1.61%
Current and less than 31 days past due$623$609
31-60 days past due613
60+ days contractual delinquency as a percentage of finance receivables—%—%
Finance Receivables By Delinquency Aging Category
Finance receivables categorized based on the credit quality indicators and by the delinquency aging category are summarized as follows:
(Dollars in millions)March 29,
2025		December 28,
2024
Performing$626$612
Nonaccrual310
Nonaccrual as a percentage of finance receivables0.48%1.61%
Current and less than 31 days past due$623$609
31-60 days past due613
60+ days contractual delinquency as a percentage of finance receivables—%—%
v3.25.1
Inventories (Tables)
 3 Months Ended
Mar. 29, 2025
Inventory Disclosure [Abstract]  
Inventories
Inventories are composed of the following:
(In millions)March 29,
2025		December 28,
2024
Finished goods$1,164 $1,138 
Work in process1,954 1,769 
Raw materials and components1,152 1,164 
Total inventories$4,270 $4,071 
v3.25.1
Accounts Payable and Warranty Liability (Tables)
 3 Months Ended
Mar. 29, 2025
Payables and Accruals [Abstract]  
Changes in Warranty Liability
Changes in our current and non-current warranty liability are as follows:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Beginning of period$173 $172 
Provision17 17 
Settlements(16)(18)
Adjustments*(1)(1)
End of period$173 $170 
* Adjustments include changes to prior year estimates, new issues on prior year sales and currency translation adjustments.
v3.25.1
Leases (Tables)
 3 Months Ended
Mar. 29, 2025
Leases [Abstract]  
Schedule of Balance Sheet and Other Information
Balance sheet and other information related to our leases is as follows:
(Dollars in millions)March 29,
2025		December 28,
2024
Operating leases:
Other assets$355$360
Other current liabilities5455
Other liabilities313316
Weighted-average remaining lease term (in years)9.910.0
Weighted-average discount rate4.89%4.84%
Finance leases:
Property, plant and equipment, less accumulated amortization
  of $11 million and $9 million, respectively
$97$95
Long-term debt, including current portion9997
Weighted-average remaining lease term (in years)6.85.9
Weighted-average discount rate6.65%6.72%
v3.25.1
Derivative Instruments and Fair Value Measurements (Tables)
 3 Months Ended
Mar. 29, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Carrying Value and Estimated and Fair Value of Financial Instruments
The carrying value and estimated fair value of our financial instruments that are not reflected in the financial statements at fair value are as follows:
March 29, 2025December 28, 2024
CarryingEstimatedCarryingEstimated
(In millions)ValueFair ValueValueFair Value
Manufacturing group
Debt, excluding leases$(3,313)$(3,176)$(3,164)$(2,989)
Finance group
Finance receivables, excluding leases452 466 439 454 
Debt(340)(317)(341)(311)
v3.25.1
Shareholders' Equity (Tables)
 3 Months Ended
Mar. 29, 2025
Equity [Abstract]  
Schedule of Shareholder's Equity
A reconciliation of Shareholders’ equity is presented below:
(In millions)Common
Stock		Capital
Surplus		Treasury
Stock		Retained
Earnings		Accumulated
Other
Comprehensive
Loss		Total
Shareholders'
Equity
Three months ended March 29, 2025
Beginning of period$23 $1,960 $(82)$5,607 $(304)$7,204 
Net income— — — 207 — 207 
Other comprehensive income— — — — 39 39 
Share-based compensation activity— 45 — — — 45 
Dividends declared— — — (3)— (3)
Purchases of common stock, including excise tax*— — (217)— — (217)
End of period$23 $2,005 $(299)$5,811 $(265)$7,275 
Three months ended March 30, 2024
Beginning of period$24 $1,910 $(165)$5,862 $(644)$6,987 
Net income— — — 201 — 201 
Other comprehensive loss— — — — (37)(37)
Share-based compensation activity1 102 — — — 103 
Dividends declared— — — (4)— (4)
Purchases of common stock, including excise tax*— — (319)— — (319)
End of period$25 $2,012 $(484)$6,059 $(681)$6,931 
*Includes amounts accrued for excise tax imposed on common share repurchases that totaled $2 million for both the first quarter of 2025 and 2024.
Schedule of Weighted-Average Shares Outstanding for Basic and Diluted EPS
The weighted-average shares outstanding for basic and diluted EPS are as follows:
Three Months Ended
(In thousands)March 29,
2025		March 30,
2024
Basic weighted-average shares outstanding182,378 192,800 
Dilutive effect of stock options1,290 2,060 
Diluted weighted-average shares outstanding183,668 194,860 
Schedule of Components of Accumulated Other Comprehensive Income (Loss)
The components of Accumulated other comprehensive loss are presented below:
(In millions)Pension and
Postretirement
Benefits
Adjustments		Foreign
Currency
Translation
Adjustments		Deferred
Gains (Losses)
on Hedge
Contracts		Accumulated
Other
Comprehensive
Loss
Balance at December 28, 2024$(179)$(120)$(5)$(304)
Other comprehensive income before reclassifications— 40 (2)38 
Reclassified from Accumulated other comprehensive loss— — 1 1 
Balance at March 29, 2025$(179)$(80)$(6)$(265)
Balance at December 30, 2023$(598)$(49)$3 $(644)
Other comprehensive loss before reclassifications— (33)(5)(38)
Reclassified from Accumulated other comprehensive loss1 — — 1 
Balance at March 30, 2024$(597)$(82)$(2)$(681)
Schedule of Before and After-Tax Components of Other Comprehensive Income (Loss)
The before and after-tax components of Other comprehensive income (loss) are presented below:
March 29, 2025March 30, 2024
(In millions)Pre-Tax
Amount		Tax
(Expense)
Benefit		After-tax
Amount		Pre-Tax
Amount		Tax
(Expense)
Benefit		After-tax
Amount
Three Months Ended
Pension and postretirement benefits adjustments:
Amortization of net actuarial gain*$(2)$— $(2)$(1)$— $(1)
Amortization of prior service cost*2 — 2 2 — 2 
Pension and postretirement benefits adjustments, net— — — 1 — 1 
Foreign currency translation adjustments40 — 40 (33)— (33)
Deferred losses on hedge contracts:
Current deferrals(3)1 (2)(7)2 (5)
Reclassification adjustments2 (1)1 (1)1 — 
Deferred losses on hedge contracts, net(1)— (1)(8)3 (5)
Total$39 $— $39 $(40)$3 $(37)
*These components of other comprehensive income (loss) are included in the computation of net periodic pension cost (income). See Note 14 of our 2024 Annual Report on Form 10-K for additional information.
v3.25.1
Segment Financial Information (Tables)
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Reconciliation of Revenues by Segment
Our revenues and expenses by segment are provided below:
(In millions)Textron AviationBellTextron SystemsIndustrialTextron eAviationFinanceTotal
Three months ended March 29, 2025
Revenues$1,212 $983 $296 $792 $7 $16 $3,306 
Costs and expenses:
Cost of sales929 803 219 678 6 — 2,635 
Research and development costs57 39 8 14 14 — 132 
Selling and administrative expense99 51 29 70 4 2 255 
Interest expense, net— — — — — 4 4 
Segment profit (loss)$127 $90 $40 $30 $(17)$10 $280 
Three months ended March 30, 2024
Revenues$1,188 $727 $306 $892 $7 $15 $3,135 
Costs and expenses:
Cost of sales891 565 222 758 6 — 2,442 
Research and development costs52 39 18 20 15 — 144 
Selling and administrative expense102 43 28 85 4 (8)254 
Interest expense, net— — — — — 5 5 
Segment profit (loss)$143 $80 $38 $29 $(18)$18 $290 
Reconciliation of Segment Profit to Income From Continuing Operations Before Income Taxes
A reconciliation of segment profit to income before income taxes, is presented below:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Segment profit$280 $290 
Unallocated amounts:
Corporate expenses and other, net(43)(62)
Interest expense, net for Manufacturing group(25)(15)
LIFO inventory provision(29)(20)
Intangible asset amortization(8)(8)
Special charges— (14)
Non-service components of pension and postretirement income, net66 66 
Income before income taxes$241 $237 
Other Information by Segment
Other information by segment is provided below:
Capital ExpendituresDepreciation and Amortization
Three Months EndedThree Months Ended
(In millions)March 29,
2025		March 30,
2024		March 29,
2025		March 30,
2024
Textron Aviation$25 $27 $37 $36 
Bell15 19 22 19 
Textron Systems5 8 12 11 
Industrial10 11 17 18 
Textron eAviation1 1 2 2 
Corporate— — 2 2 
Total$56 $66 $92 $88 
Our assets by segment are summarized below:
(In millions)March 29,
2025		December 28,
2024
Textron Aviation$4,795 $4,624 
Bell3,073 2,992 
Textron Systems2,045 2,036 
Industrial2,413 2,378 
Textron eAviation294 286 
Finance679 680 
Corporate3,643 3,842 
Total assets$16,942 $16,838 
v3.25.1
Revenues (Tables)
 3 Months Ended
Mar. 29, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Our revenues disaggregated by major product type are presented below:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Aircraft$729 $732 
Aftermarket parts and services483 456 
Textron Aviation$1,212 $1,188 
Military aircraft and support programs634 480 
Commercial helicopters, parts and services349 247 
Bell$983 $727 
Textron Systems$296 $306 
Fuel systems and functional components450 488 
Specialized vehicles342 404 
Industrial$792 $892 
Textron eAviation$7 $7 
Finance$16 $15 
Total revenues$3,306 $3,135 
Our revenues for our segments by customer type and geographic location are presented below:
(In millions)Textron
Aviation		BellTextron
Systems		IndustrialTextron eAviationFinanceTotal
Three months ended March 29, 2025
Customer type:
Commercial$1,143 $361 $70 $785 $7 $16 $2,382 
U.S. Government69 622 226 7 — — 924 
Total revenues$1,212 $983 $296 $792 $7 $16 $3,306 
Geographic location:
United States$912 $682 $269 $408 $3 $4 $2,278 
Europe86 56 12 164 3 — 321 
Other international214 245 15 220 1 12 707 
Total revenues$1,212 $983 $296 $792 $7 $16 $3,306 
Three months ended March 30, 2024
Customer type:
Commercial$1,155 $239 $72 $884 $7 $15 $2,372 
U.S. Government33 488 234 8 — — 763 
Total revenues$1,188 $727 $306 $892 $7 $15 $3,135 
Geographic location:
United States$950 $559 $274 $460 $4 $4 $2,251 
Europe62 23 13 198 2 5 303 
Other international176 145 19 234 1 6 581 
Total revenues$1,188 $727 $306 $892 $7 $15 $3,135 
v3.25.1
Share-Based Compensation (Tables)
 3 Months Ended
Mar. 29, 2025
Share-Based Payment Arrangement [Abstract]  
Compensation Expense Included in Net Income Compensation expense included in net income for our share-based compensation plans is as follows:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Compensation expense$34 $77 
Income tax benefit(8)(19)
Total compensation expense included in net income$26 $58 
Weighted-Average Fair Value of Stock Options and Assumptions Used in Option-Pricing Model The assumptions used in our option-pricing model for these grants and the weighted-average fair value for these options are as follows:
March 1,
2025		March 1,
2024
Fair value of options at grant date$22.01$27.69 
Dividend yield0.1%0.1%
Expected volatility25.1%27.2%
Risk-free interest rate4.1%4.3%
Expected term (in years)4.84.8
Stock Option Activity
The stock option activity during the first quarter of 2025 is provided below:
(Options in thousands)Number of
Options		Weighted-
Average
Exercise Price
Outstanding at December 28, 20246,649 $61.70 
Granted995 74.73 
Exercised(158)(46.73)
Forfeited or expired(21)(79.48)
Outstanding at March 29, 20257,465 $63.71 
Exercisable at March 29, 20255,354 $57.77 
Restricted Stock Units Activity
The activity for restricted stock units during the first quarter of 2025 is provided below:
Units Payable in StockUnits Payable in Cash
(Shares/Units in thousands)Number of
Shares		Weighted-
Average Grant
Date Fair Value		Number of
Units		Weighted-
Average Grant
Date Fair Value
Outstanding at December 28, 2024, nonvested331 $75.50 631 $77.75 
Granted96 74.73 244 74.87 
Vested(81)(71.07)(192)(71.07)
Forfeited— — (8)(77.79)
Outstanding at March 29, 2025, nonvested346 $76.32 675 $78.61 
Fair Value of Awards Vested and Cash Paid During Respective Periods
The fair value of the restricted stock unit awards that vested and/or amounts paid under these awards is as follows:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Fair value of awards vested$20 $41 
Cash paid14 33 
Performance Share Units Activity
The activity for our performance share units during the first quarter of 2025 is as follows:
(Units in thousands)Number of
Units		Weighted-
Average Grant
Date Fair Value
Outstanding at December 28, 2024, nonvested394 $80.81 
Granted199 74.73 
Outstanding at March 29, 2025, nonvested593 $78.77 
v3.25.1
Retirement Plans (Tables)
 3 Months Ended
Mar. 29, 2025
Retirement Benefits [Abstract]  
Schedule of Components of Net Periodic Benefit Income The components of net periodic benefit (income) cost for these plans are as follows:
Three Months Ended
(In millions)March 29,
2025		March 30,
2024
Pension Benefits
Service cost$16 $17 
Interest cost94 90 
Expected return on plan assets(162)(159)
Amortization of net actuarial loss— 1 
Amortization of prior service cost2 2 
Net periodic benefit income*$(50)$(49)
Postretirement Benefits Other Than Pensions
Interest cost$2 $2 
Amortization of net actuarial gain(2)(2)
Net periodic benefit (income) cost$— $— 
* Excludes the cost associated with the defined contribution component, included in certain of our U.S.-based defined benefit pension plans, that totaled $3 million and $4 million for the first quarter of 2025 and 2024, respectively.
v3.25.1
Special Charges (Tables)
 3 Months Ended
Mar. 29, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Reserve Activity
Our restructuring reserve activity is summarized below:
(In millions)Severance
Costs		Contract
Terminations
and Other		Total
Balance at December 28, 2024$37 $34 $71 
Cash paid(7)(12)(19)
Foreign currency translation1 — 1 
Balance at March 29, 2025$31 $22 $53 
v3.25.1
Basis of Presentation (Details)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
borrowing_group
$ / shares
Mar. 30, 2024
USD ($)
$ / shares
Change in Accounting Estimate [Line Items]    
Number of borrowing groups | borrowing_group 2  
Cumulative catch-up method    
Change in Accounting Estimate [Line Items]    
Cumulative catch up adjustments, increase in segment profit $ 17 $ 13
Change in accounting estimate financial effect, increase in net income $ 13 $ 10
Change in accounting estimate financial effect increase in earnings per diluted share (in dollars per share) | $ / shares $ 0.07 $ 0.05
v3.25.1
Accounts Receivable and Finance Receivables - Accounts Receivable (Details) - Manufacturing group - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Accounts Receivable    
Accounts receivable, gross $ 959 $ 968
Allowance for credit losses (19) (19)
Total accounts receivable, net 940 949
Commercial    
Accounts Receivable    
Accounts receivable, gross 792 738
U.S. Government    
Accounts Receivable    
Accounts receivable, gross $ 167 $ 230
v3.25.1
Accounts Receivable and Finance Receivables - Finance Receivables (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Finance Receivables    
Finance receivables $ 629 $ 622
Allowance for credit losses (19) (19)
Total finance receivables, net $ 610 $ 603
v3.25.1
Accounts Receivable and Finance Receivables - Finance Receivable Portfolio Quality (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Dec. 28, 2024
Finance Receivable Portfolio Quality    
Finance receivables $ 629 $ 622
60+ days contractual delinquency as a percentage of finance receivables 0.00% 0.00%
Current and less than 31 days past due    
Finance Receivable Portfolio Quality    
Finance receivables $ 623 $ 609
31-60 days past due    
Finance Receivable Portfolio Quality    
Finance receivables $ 6 $ 13
Performing    
Finance Receivable Portfolio Quality    
Financing percentage receivable originating since the beginning of 2023 40.00%  
Financing receivable percentage originating from 2020 to 2022 25.00%  
Nonperforming    
Finance Receivable Portfolio Quality    
Nonaccrual as a percentage of finance receivables 0.48% 1.61%
Nonperforming | Nonaccrual    
Finance Receivable Portfolio Quality    
Finance receivables $ 3 $ 10
Financing receivable percentage originating prior to 2020 100.00%  
Nonperforming | Minimum    
Finance Receivable Portfolio Quality    
Number of months of contractual delinquency to classify accounts as nonaccrual unless such collection is not doubtful 3 months  
Performing    
Finance Receivable Portfolio Quality    
Finance receivables $ 626 $ 612
v3.25.1
Inventories (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Inventories    
Finished goods $ 1,164 $ 1,138
Work in process 1,954 1,769
Raw materials and components 1,152 1,164
Total inventories $ 4,270 $ 4,071
v3.25.1
Accounts Payable and Warranty Liability - Narrative (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Supplier Finance Program [Line Items]    
Supplier financing maximum commitment $ 200  
Payable under supplier financing arrangement $ 91 $ 50
Maximum    
Supplier Finance Program [Line Items]    
Payment terms period under supplier financing arrangement 190 days  
v3.25.1
Accounts Payable and Warranty Liability - Warranty Liability (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Changes in warranty liability    
Beginning of period $ 173 $ 172
Provision 17 17
Settlements (16) (18)
Adjustments (1) (1)
End of period $ 173 $ 170
v3.25.1
Leases - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Leases [Abstract]    
Remaining operating lease terms 24 years  
Operating lease - option to extend true  
Operating lease - option to extend the lease, term 20 years  
Operating lease cost $ 18 $ 18
Noncash lease transactions 7 $ 25
Remainder for 2025 53  
2026 59  
2027 49  
2028 46  
2029 41  
Thereafter $ 222  
v3.25.1
Leases - Balance Sheet and Other Information (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Operating leases:    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Other assets $ 355 $ 360
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other current liabilities Other current liabilities
Other current liabilities $ 54 $ 55
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other liabilities Other liabilities
Other liabilities $ 313 $ 316
Weighted-average remaining lease term (in years) 9 years 10 months 24 days 10 years
Weighted-average discount rate 4.89% 4.84%
Finance leases:    
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, plant and equipment, less accumulated depreciation and amortization of $5,564 and $5,471, respectively Property, plant and equipment, less accumulated depreciation and amortization of $5,564 and $5,471, respectively
Property, plant and equipment, less accumulated amortization of $11 million and $9 million, respectively $ 97 $ 95
Finance leases, accumulated amortization $ 11 $ 9
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Long-term debt Long-term debt
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Current portion of long-term debt Current portion of long-term debt
Long-term debt, including current portion $ 99 $ 97
Weighted-average remaining lease term (in years) 6 years 9 months 18 days 5 years 10 months 24 days
Weighted-average discount rate 6.65% 6.72%
v3.25.1
Debt (Details) - USD ($)
$ in Millions
 3 Months Ended
Feb. 13, 2025
Mar. 29, 2025
Mar. 30, 2024
Debt      
Proceeds from issuance of debt   $ 495 $ 0
SEC-Registered Fixed-Rate Notes      
Debt      
Debt $ 500    
Interest rate 5.50%    
Proceeds from issuance of debt $ 495    
v3.25.1
Derivative Instruments and Fair Value Measurements - Assets and Liabilities Recorded at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Dec. 28, 2024
Manufacturing group    
Assets and Liabilities Recorded at Fair Value on a Recurring Basis    
Forward exchange contracts maximum maturity period 3 years  
Manufacturing group | Foreign currency exchange contracts | Cash Flow Hedging    
Assets and Liabilities Recorded at Fair Value on a Recurring Basis    
Notional amounts $ 683 $ 464
Manufacturing group | Foreign currency exchange contracts | Cash Flow Hedging | Level 2    
Assets and Liabilities Recorded at Fair Value on a Recurring Basis    
Derivative asset, fair value 6 5
Derivative liability, fair value 16 19
Finance group | Interest rate swap | Cash Flow Hedging    
Assets and Liabilities Recorded at Fair Value on a Recurring Basis    
Derivative asset, fair value 4 8
Finance group | Interest Rate Swap, Maturing August 2025 To August 2029 | Cash Flow Hedging    
Assets and Liabilities Recorded at Fair Value on a Recurring Basis    
Notional amounts $ 264 $ 264
Finance group | Interest Rate Swap, Maturing August 2025 To August 2029 | Cash Flow Hedging | Junior Subordinated Debt    
Assets and Liabilities Recorded at Fair Value on a Recurring Basis    
Net impact of debt and derivative, weighted-average fixed interest rate 5.20% 5.20%
Finance group | Interest Rate Swap, Maturing August 2025 To August 2030 | Cash Flow Hedging    
Assets and Liabilities Recorded at Fair Value on a Recurring Basis    
Notional amounts $ 30 $ 30
Finance group | Interest Rate Swap, Maturing August 2025 To August 2030 | Cash Flow Hedging | Junior Subordinated Debt    
Assets and Liabilities Recorded at Fair Value on a Recurring Basis    
Net impact of debt and derivative, weighted-average fixed interest rate 5.10% 5.10%
v3.25.1
Derivative Instruments and Fair Value Measurements - Assets and Liabilities not Recorded at Fair Value (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 28, 2024
Manufacturing group | Carrying Value    
Financial instruments not reflected at fair value    
Debt $ (3,313) $ (3,164)
Manufacturing group | Estimated Fair value    
Financial instruments not reflected at fair value    
Debt (3,176) (2,989)
Finance group | Carrying Value    
Financial instruments not reflected at fair value    
Debt (340) (341)
Finance receivables, excluding leases 452 439
Finance group | Estimated Fair value    
Financial instruments not reflected at fair value    
Debt (317) (311)
Finance receivables, excluding leases $ 466 $ 454
v3.25.1
Shareholders' Equity - Reconciliation of Shareholders' Equity (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Increase (Decrease) in Stockholders' Equity    
Balance at beginning of period $ 7,204 $ 6,987
Net income 207 201
Other comprehensive income (loss) 39 (37)
Share-based compensation activity 45 103
Dividends declared (3) (4)
Purchases of common stock, including excise tax (217) (319)
Balance at end of period 7,275 6,931
Excise taxes on common share repurchases $ 2 $ 2
Dividends per share of common stock (in dollars per share) $ 0.02 $ 0.02
Common Stock    
Increase (Decrease) in Stockholders' Equity    
Balance at beginning of period $ 23 $ 24
Share-based compensation activity   1
Balance at end of period 23 25
Capital Surplus    
Increase (Decrease) in Stockholders' Equity    
Balance at beginning of period 1,960 1,910
Share-based compensation activity 45 102
Balance at end of period 2,005 2,012
Treasury Stock    
Increase (Decrease) in Stockholders' Equity    
Balance at beginning of period (82) (165)
Purchases of common stock, including excise tax (217) (319)
Balance at end of period (299) (484)
Retained Earnings    
Increase (Decrease) in Stockholders' Equity    
Balance at beginning of period 5,607 5,862
Net income 207 201
Dividends declared (3) (4)
Balance at end of period 5,811 6,059
Accumulated Other Comprehensive Loss    
Increase (Decrease) in Stockholders' Equity    
Balance at beginning of period (304) (644)
Other comprehensive income (loss) 39 (37)
Balance at end of period $ (265) $ (681)
v3.25.1
Shareholders' Equity - Earnings Per Share (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Equity [Abstract]    
Basic weighted-average shares outstanding (in shares) 182,378 192,800
Dilutive effect of stock options (in shares) 1,290 2,060
Diluted weighted-average shares outstanding (in shares) 183,668 194,860
Anti-dilutive effect of weighted average shares (in shares) 2,100 1,000
v3.25.1
Shareholders' Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period $ 7,204 $ 6,987
Other comprehensive income before reclassifications 38 (38)
Reclassified from Accumulated other comprehensive loss 1 1
Balance at end of period 7,275 6,931
Accumulated Other Comprehensive Loss    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period (304) (644)
Balance at end of period (265) (681)
Pension and Postretirement Benefits Adjustments    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period (179) (598)
Other comprehensive income before reclassifications 0 0
Reclassified from Accumulated other comprehensive loss 0 1
Balance at end of period (179) (597)
Foreign Currency Translation Adjustments    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period (120) (49)
Other comprehensive income before reclassifications 40 (33)
Reclassified from Accumulated other comprehensive loss 0 0
Balance at end of period (80) (82)
Deferred Gains (Losses) on Hedge Contracts    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Balance at beginning of period (5) 3
Other comprehensive income before reclassifications (2) (5)
Reclassified from Accumulated other comprehensive loss 1 0
Balance at end of period $ (6) $ (2)
v3.25.1
Shareholders' Equity - Before and After Tax Components of Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Pension and postretirement benefits adjustments, pre-tax:    
Amortization of net actuarial gain, pre-tax $ (2) $ (1)
Amortization of prior service cost, pre-tax 2 2
Pension and postretirement benefits adjustments, net, pre-tax 0 1
Pension and postretirement benefits adjustments, tax:    
Amortization of net actuarial gain, tax (expense) benefit 0 0
Amortization of prior service cost, tax (expense) benefit 0 0
Pension and postretirement benefits adjustments, net, tax (expense) benefit 0 0
Pension and postretirement benefits adjustments, after-tax:    
Amortization of net actuarial gain, after-tax (2) (1)
Amortization of prior period service cost, after-tax 2 2
Pension and postretirement benefits adjustments, net, after-tax 0 1
Foreign currency translation adjustments, pre-tax:    
Foreign currency translation adjustments 40 (33)
Foreign currency translation adjustments, tax:    
Foreign currency translation adjustments 0 0
Foreign currency translation adjustments, after-tax:    
Foreign currency translation adjustments 40 (33)
Deferred losses on hedge contracts, pre-tax:    
Current deferrals, pre-tax (3) (7)
Reclassification adjustments, pre-tax 2 (1)
Deferred losses on hedge contracts, net, pre-tax (1) (8)
Deferred losses on hedge contracts, tax:    
Current deferrals, tax (expense) benefit 1 2
Reclassification adjustments, tax (expense) benefit (1) 1
Deferred losses on hedge contracts, net, tax (expense) benefit 0 3
Deferred losses on hedge contracts, after-tax:    
Current deferrals, after-tax (2) (5)
Reclassification adjustments, after tax 1 0
Deferred losses on hedge contracts, net, after-tax (1) (5)
Other comprehensive income (loss), pre-tax 39 (40)
Other comprehensive income (loss), tax (expense) benefit 0 3
Other comprehensive income (loss) $ 39 $ (37)
v3.25.1
Segment Financial Information - Narrative (Details)
 3 Months Ended
Mar. 29, 2025
segment
Operating and reportable business segments  
Number of operating business segments 6
Number of reportable business segments 6
v3.25.1
Segment Financial Information - Revenue and Disbursement of Costs and Expenses by Segments (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues $ 3,306 $ 3,135
Costs, expenses and other    
Research and development costs 132 144
Selling and administrative expense 298 316
Interest expense, net 29 20
Operating Segment    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 3,306 3,135
Costs, expenses and other    
Cost of products/services sold 2,635 2,442
Research and development costs 132 144
Selling and administrative expense 255 254
Interest expense, net 4 5
Segment profit (loss) 280 290
Textron Aviation    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 1,212 1,188
Textron Aviation | Operating Segment    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 1,212 1,188
Costs, expenses and other    
Cost of products/services sold 929 891
Research and development costs 57 52
Selling and administrative expense 99 102
Interest expense, net 0 0
Segment profit (loss) 127 143
Bell    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 983 727
Bell | Operating Segment    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 983 727
Costs, expenses and other    
Cost of products/services sold 803 565
Research and development costs 39 39
Selling and administrative expense 51 43
Interest expense, net 0 0
Segment profit (loss) 90 80
Textron Systems    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 296 306
Textron Systems | Operating Segment    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 296 306
Costs, expenses and other    
Cost of products/services sold 219 222
Research and development costs 8 18
Selling and administrative expense 29 28
Interest expense, net 0 0
Segment profit (loss) 40 38
Industrial    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 792 892
Industrial | Operating Segment    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 792 892
Costs, expenses and other    
Cost of products/services sold 678 758
Research and development costs 14 20
Selling and administrative expense 70 85
Interest expense, net 0 0
Segment profit (loss) 30 29
Textron eAviation    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 7 7
Textron eAviation | Operating Segment    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 7 7
Costs, expenses and other    
Cost of products/services sold 6 6
Research and development costs 14 15
Selling and administrative expense 4 4
Interest expense, net 0 0
Segment profit (loss) (17) (18)
Finance    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 16 15
Finance | Operating Segment    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Revenues 16 15
Costs, expenses and other    
Cost of products/services sold 0 0
Research and development costs 0 0
Selling and administrative expense 2 (8)
Interest expense, net 4 5
Segment profit (loss) $ 10 $ 18
v3.25.1
Segment Financial Information - Reconciliation of Segment Profit to Income Before Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Reconciliation of segment profit to income from continuing operations before income taxes    
Interest expense, net for Manufacturing group $ (29) $ (20)
Special charges 0  
Non-service components of pension and postretirement income, net 66 66
Income before income taxes 241 237
Operating Segment    
Reconciliation of segment profit to income from continuing operations before income taxes    
Segment profit 280 290
Interest expense, net for Manufacturing group (4) (5)
Reconciling Items    
Reconciliation of segment profit to income from continuing operations before income taxes    
Corporate expenses and other, net (43) (62)
LIFO inventory provision (29) (20)
Intangible asset amortization (8) (8)
Special charges 0 (14)
Non-service components of pension and postretirement income, net 66 66
Manufacturing group | Reconciling Items    
Reconciliation of segment profit to income from continuing operations before income taxes    
Interest expense, net for Manufacturing group $ (25) $ (15)
v3.25.1
Segment Financial Information - Capital Expenditures, Depreciation and Amortization and Assets by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 28, 2024
Other Information by Segment      
Capital Expenditures $ 56 $ 66  
Depreciation and Amortization 92 88  
Assets 16,942   $ 16,838
Manufacturing group      
Other Information by Segment      
Capital Expenditures 56 66  
Depreciation and Amortization 92 88  
Assets 16,263   16,158
Corporate      
Other Information by Segment      
Capital Expenditures 0 0  
Depreciation and Amortization 2 2  
Assets 3,643   3,842
Textron Aviation | Operating Segment | Manufacturing group      
Other Information by Segment      
Capital Expenditures 25 27  
Depreciation and Amortization 37 36  
Assets 4,795   4,624
Bell | Operating Segment | Manufacturing group      
Other Information by Segment      
Capital Expenditures 15 19  
Depreciation and Amortization 22 19  
Assets 3,073   2,992
Textron Systems | Operating Segment | Manufacturing group      
Other Information by Segment      
Capital Expenditures 5 8  
Depreciation and Amortization 12 11  
Assets 2,045   2,036
Industrial | Operating Segment | Manufacturing group      
Other Information by Segment      
Capital Expenditures 10 11  
Depreciation and Amortization 17 18  
Assets 2,413   2,378
Textron eAviation | Operating Segment | Manufacturing group      
Other Information by Segment      
Capital Expenditures 1 1  
Depreciation and Amortization 2 $ 2  
Assets 294   286
Finance | Operating Segment      
Other Information by Segment      
Assets $ 679   $ 680
v3.25.1
Revenues - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Disaggregation of Revenue [Line Items]    
Revenues $ 3,306 $ 3,135
United States    
Disaggregation of Revenue [Line Items]    
Revenues 2,278 2,251
Europe    
Disaggregation of Revenue [Line Items]    
Revenues 321 303
Other international    
Disaggregation of Revenue [Line Items]    
Revenues 707 581
Commercial    
Disaggregation of Revenue [Line Items]    
Revenues 2,382 2,372
U.S. Government    
Disaggregation of Revenue [Line Items]    
Revenues 924 763
Textron Aviation    
Disaggregation of Revenue [Line Items]    
Revenues 1,212 1,188
Textron Aviation | United States    
Disaggregation of Revenue [Line Items]    
Revenues 912 950
Textron Aviation | Europe    
Disaggregation of Revenue [Line Items]    
Revenues 86 62
Textron Aviation | Other international    
Disaggregation of Revenue [Line Items]    
Revenues 214 176
Textron Aviation | Commercial    
Disaggregation of Revenue [Line Items]    
Revenues 1,143 1,155
Textron Aviation | U.S. Government    
Disaggregation of Revenue [Line Items]    
Revenues 69 33
Textron Aviation | Aircraft    
Disaggregation of Revenue [Line Items]    
Revenues 729 732
Textron Aviation | Aftermarket parts and services    
Disaggregation of Revenue [Line Items]    
Revenues 483 456
Bell    
Disaggregation of Revenue [Line Items]    
Revenues 983 727
Bell | United States    
Disaggregation of Revenue [Line Items]    
Revenues 682 559
Bell | Europe    
Disaggregation of Revenue [Line Items]    
Revenues 56 23
Bell | Other international    
Disaggregation of Revenue [Line Items]    
Revenues 245 145
Bell | Commercial    
Disaggregation of Revenue [Line Items]    
Revenues 361 239
Bell | U.S. Government    
Disaggregation of Revenue [Line Items]    
Revenues 622 488
Bell | Military aircraft and support programs    
Disaggregation of Revenue [Line Items]    
Revenues 634 480
Bell | Commercial helicopters, parts and services    
Disaggregation of Revenue [Line Items]    
Revenues 349 247
Textron Systems    
Disaggregation of Revenue [Line Items]    
Revenues 296 306
Textron Systems | United States    
Disaggregation of Revenue [Line Items]    
Revenues 269 274
Textron Systems | Europe    
Disaggregation of Revenue [Line Items]    
Revenues 12 13
Textron Systems | Other international    
Disaggregation of Revenue [Line Items]    
Revenues 15 19
Textron Systems | Commercial    
Disaggregation of Revenue [Line Items]    
Revenues 70 72
Textron Systems | U.S. Government    
Disaggregation of Revenue [Line Items]    
Revenues 226 234
Industrial    
Disaggregation of Revenue [Line Items]    
Revenues 792 892
Industrial | United States    
Disaggregation of Revenue [Line Items]    
Revenues 408 460
Industrial | Europe    
Disaggregation of Revenue [Line Items]    
Revenues 164 198
Industrial | Other international    
Disaggregation of Revenue [Line Items]    
Revenues 220 234
Industrial | Commercial    
Disaggregation of Revenue [Line Items]    
Revenues 785 884
Industrial | U.S. Government    
Disaggregation of Revenue [Line Items]    
Revenues 7 8
Industrial | Fuel systems and functional components    
Disaggregation of Revenue [Line Items]    
Revenues 450 488
Industrial | Specialized vehicles    
Disaggregation of Revenue [Line Items]    
Revenues 342 404
Textron eAviation    
Disaggregation of Revenue [Line Items]    
Revenues 7 7
Textron eAviation | United States    
Disaggregation of Revenue [Line Items]    
Revenues 3 4
Textron eAviation | Europe    
Disaggregation of Revenue [Line Items]    
Revenues 3 2
Textron eAviation | Other international    
Disaggregation of Revenue [Line Items]    
Revenues 1 1
Textron eAviation | Commercial    
Disaggregation of Revenue [Line Items]    
Revenues 7 7
Textron eAviation | U.S. Government    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Finance    
Disaggregation of Revenue [Line Items]    
Revenues 16 15
Finance | United States    
Disaggregation of Revenue [Line Items]    
Revenues 4 4
Finance | Europe    
Disaggregation of Revenue [Line Items]    
Revenues 0 5
Finance | Other international    
Disaggregation of Revenue [Line Items]    
Revenues 12 6
Finance | Commercial    
Disaggregation of Revenue [Line Items]    
Revenues 16 15
Finance | U.S. Government    
Disaggregation of Revenue [Line Items]    
Revenues $ 0 $ 0
v3.25.1
Revenues - Remaining Performance Obligations (Details)
$ in Billions
Mar. 29, 2025
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 17.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-03-30  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation, percent 78.00%
Remaining performance obligation, expected timing of satisfaction 21 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-03  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation, percent 18.00%
Remaining performance obligation, expected timing of satisfaction 24 months
v3.25.1
Revenues - Contract Assets and Liabilities (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 28, 2024
Contract Assets and Liabilities      
Contract assets $ 478   $ 345
Contract liabilities 1,900   $ 1,900
Revenue recognized included in contract liabilities $ 340 $ 327  
v3.25.1
Share-Based Compensation - Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Compensation expense $ 34 $ 77
Income tax benefit (8) (19)
Total compensation expense included in net income 26 58
Stock options    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Compensation expense $ 13 $ 15
v3.25.1
Share-Based Compensation - Stock Appreciation Rights (Details) - Stock appreciation rights - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Awards outstanding (in shares) 446,753  
Weighted-average exercise price (in dollars per share) $ 66.21  
Weighted-average remaining contractual life 6 years 7 months 6 days  
Intrinsic value $ 4 $ 14
v3.25.1
Share-Based Compensation - Stock Options (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended
Mar. 01, 2025
Mar. 01, 2024
Mar. 29, 2025
Mar. 30, 2024
Additional general disclosures        
Aggregate intrinsic value of outstanding options     $ 87  
Weighted-average remaining contractual life of outstanding stock options     6 years  
Aggregate intrinsic value of exercisable options     $ 87  
Weighted-average remaining contractual life of exercisable options     4 years 9 months 18 days  
Total intrinsic value of options exercised     $ 4 $ 60
Stock options        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Maximum term of options     10 years  
Performance share units vesting period     3 years  
Weighted-average assumptions used in Black-Scholes option-pricing model        
Fair value of options at grant date (in dollars per share) $ 22.01 $ 27.69    
Dividend yield 0.10% 0.10%    
Expected volatility 25.10% 27.20%    
Risk-free interest rate 4.10% 4.30%    
Expected term (in years) 4 years 9 months 18 days 4 years 9 months 18 days    
Number of Options        
Outstanding at beginning of period (in shares)     6,649  
Granted (in shares)     995  
Exercised (in shares)     (158)  
Forfeited or expired (in shares)     (21)  
Outstanding at end of period (in shares)     7,465  
Exercisable at end of period (in shares)     5,354  
Weighted-Average Exercise Price        
Outstanding at beginning of period (in dollars per share)     $ 61.70  
Granted (in dollars per share)     74.73  
Exercised (in dollars per share)     (46.73)  
Forfeited or expired (in dollars per share)     (79.48)  
Outstanding at end of period (in dollars per share)     63.71  
Exercisable at end of period (in dollars per share)     $ 57.77  
v3.25.1
Share-Based Compensation - Restricted Stock Units (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Restricted Stock Units    
Fair value    
Fair value of awards vested $ 20 $ 41
Cash paid $ 14 $ 33
Units Payable in Stock    
Number of Units    
Outstanding at beginning of period, nonvested (in shares) 331  
Granted (in shares) 96  
Vested (in shares) (81)  
Forfeited (in shares) 0  
Outstanding at end of period, nonvested (in shares) 346  
Weighted- Average Grant Date Fair Value    
Outstanding at beginning of period, nonvested (in dollars per share) $ 75.50  
Granted (in dollars per share) 74.73  
Vested (in dollars per share) (71.07)  
Forfeited (in dollars per share) 0  
Outstanding at end of period, nonvested (in dollars per share) $ 76.32  
Units Payable in Cash    
Number of Units    
Outstanding at beginning of period, nonvested (in shares) 631  
Granted (in shares) 244  
Vested (in shares) (192)  
Forfeited (in shares) (8)  
Outstanding at end of period, nonvested (in shares) 675  
Weighted- Average Grant Date Fair Value    
Outstanding at beginning of period, nonvested (in dollars per share) $ 77.75  
Granted (in dollars per share) 74.87  
Vested (in dollars per share) (71.07)  
Forfeited (in dollars per share) (77.79)  
Outstanding at end of period, nonvested (in dollars per share) $ 78.61  
v3.25.1
Share-Based Compensation - Performance Share Units (Details) - Performance Share Units - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Number of Units    
Outstanding at beginning of period, nonvested (in shares) 394  
Granted (in shares) 199  
Outstanding at end of period, nonvested (in shares) 593  
Weighted- Average Grant Date Fair Value    
Outstanding at beginning of period, nonvested (in dollars per share) $ 80.81  
Granted (in dollars per share) 74.73  
Outstanding at end of period, nonvested (in dollars per share) $ 78.77  
Fair value    
Cash paid $ 16 $ 35
v3.25.1
Retirement Plans (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Pension Benefits    
Net periodic benefit income    
Service cost $ 16 $ 17
Interest cost 94 90
Expected return on plan assets (162) (159)
Amortization of net actuarial loss 0 1
Amortization of prior service cost 2 2
Net periodic benefit income (50) (49)
Pension Benefits | United States    
Net periodic benefit income    
Cost associated with the defined contribution component 3 4
Postretirement Benefits Other Than Pensions    
Net periodic benefit income    
Interest cost 2 2
Amortization of net actuarial loss (2) (2)
Net periodic benefit income $ 0 $ 0
v3.25.1
Special Charges - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Special Charges [Line Items]    
Special charges $ 0  
2023 Restructuring Plan    
Special Charges [Line Items]    
Special charges $ 0 $ 14
v3.25.1
Special Charges - Restructuring Reserve Activity (Details)
$ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
Restructuring Reserve [Roll Forward]  
Beginning balance $ 71
Cash paid (19)
Foreign currency translation 1
Ending balance 53
Severance Costs  
Restructuring Reserve [Roll Forward]  
Beginning balance 37
Cash paid (7)
Foreign currency translation 1
Ending balance 31
Contract Terminations and Other  
Restructuring Reserve [Roll Forward]  
Beginning balance 34
Cash paid (12)
Foreign currency translation 0
Ending balance $ 22
v3.25.1
Income Taxes (Details)
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Income Tax Disclosure [Abstract]    
Effective income tax rate 14.10% 15.20%
U.S. federal statutory income tax rate 21.00% 21.00%