Textron Inc. is a $14.2 billion multi-industry company with approximately 37,000 employees. The Company leverages its global network of aircraft, defense, industrial, and finance businesses to provide customers with innovative products and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Textron Off Road, Arctic Cat, Textron Systems, and TRU Simulation + Training.

Textron Revenue
by Segment

Textron Revenue by Type

Textron Revenue by region


Dollars in millions, except per share data 2017 2016 Change
Revenues $14,198 $13,788 3%
International revenues % 38% 38%
Segment profit1 $1,169 $1,309 (11)%
Income from continuing operations—GAAP $306 $843 (64)%
Adjusted income from continuing
operations—Non-GAAP2 $658 $715 (8)%
Manufacturing group debt3 $3,088 $2,777 11%
Shareholders’ equity $5,647 $5,574 1%
Manufacturing group debt-to-capital (net of cash)3 26% 23%
Common Share Data
Diluted EPS from continuing operations—GAAP $1.14 $3.09 (63)%
Adjusted diluted EPS from continuing
operations—Non-GAAP2 $2.45 $2.62 (6)%
Dividends per share $0.08 $0.08
Diluted average shares outstanding (in thousands) 268,750 272,365 (1)%
Key Performance Metrics
ROIC4 9.8% 11.6%
Net cash provided by operating activities of continuing
operations—Manufacturing group—GAAP $947 $988 (4)%
Manufacturing cash flow before pension
contributions—Non-GAAP3,5 $889 $573 55%
Manufacturing pension contributions3 $358 $50 616%
Capital expenditures $423 $446 (5)%
Net Debt
Manufacturing group debt $3,088 $2,777 $311
Finance group debt $824 $903 $(79)
Total debt $3,912 $3,680 $232
Less: Consolidated cash and equivalents $1,262 $1,298 $(36)
Net Debt $2,650 $2,382 $268
1Segment profit is an important measure used for evaluating performance and for decision-making purposes. Segment profit for the manufacturing segments excludes interest expense, certain corporate expenses and special charges. The measurement for the Finance segment includes interest income and expense along with intercompany interest income and expense.
2Adjusted income from continuing operations and Adjusted diluted earnings per share (EPS) from continuing operations are Non-GAAP measures. See page 11 for reconciliation to GAAP.
3Our Manufacturing group includes all continuing operations of Textron Inc., except for the Finance segment.
4Calculation of return on invested capital (“ROIC”) is provided on page 13.
5Manufacturing cash flow before pension contributions is a Non-GAAP measure. See page 12 for reconciliation to GAAP.

(Credit Ratings as of January 16, 2018)

Textron Inc.
S&P BBB A2 Stable
Moody’s Baa2 P2 Stable