(b) Manufacturing cash flow before pension contributions is a non-GAAP financial measure as defined in "Non-GAAP Financial Measures" attached to this release.
| TEXTRON INC. | ||||||||||||
| Condensed Consolidated Schedule of Cash Flows | ||||||||||||
| (In millions) | ||||||||||||
| (Unaudited) | ||||||||||||
| Three Months Ended | ||||||||||||
| March 31, 2018 | April 1, 2017 | |||||||||||
| Cash flows from operating activities: | ||||||||||||
| Income from continuing operations | $ | 189 | $ | 100 | ||||||||
| Depreciation and amortization | 105 | 106 | ||||||||||
| Changes in working capital (a) | (369 | ) | (371 | ) | ||||||||
| Changes in other assets and liabilities and non-cash items (a) | (10 | ) | (26 | ) | ||||||||
| Net cash from operating activities of continuing operations (a) | (85 | ) | (191 | ) | ||||||||
| Cash flows from investing activities: | ||||||||||||
| Capital expenditures | (77 | ) | (76 | ) | ||||||||
|
Net proceeds from corporate-owned life insurance policies (a) |
58 | 22 | ||||||||||
| Finance receivables repaid | 16 | 15 | ||||||||||
| Net cash used in acquisitions | - | (318 | ) | |||||||||
| Other investing activities, net | 9 | 13 | ||||||||||
| Net cash from investing activities (a) | 6 | (344 | ) | |||||||||
| Cash flows from financing activities: | ||||||||||||
| Increase in short-term debt | 2 | 100 | ||||||||||
| Principal payments on long-term debt and nonrecourse debt | (19 | ) | (38 | ) | ||||||||
| Proceeds from long-term debt | - | 362 | ||||||||||
| Purchases of Textron common stock | (344 | ) | (186 | ) | ||||||||
| Other financing activities, net | 3 | 13 | ||||||||||
| Net cash from financing activities | (358 | ) | 251 | |||||||||
| Total cash flows from continuing operations | (437 | ) | (284 | ) | ||||||||
| Total cash flows from discontinued operations | - | (25 | ) | |||||||||
| Effect of exchange rate changes on cash and equivalents | 11 | 8 | ||||||||||
| Net change in cash and equivalents | (426 | ) | (301 | ) | ||||||||
| Cash and equivalents at beginning of period | 1,262 | 1,298 | ||||||||||
| Cash and equivalents at end of period | $ | 836 | $ | 997 | ||||||||
