$TXT
TEXTRON INC

2022 Q2 Form 10-Q Financial Statement

#000021734622000016 Filed on April 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q2
Revenue $3.001B $2.879B
YoY Change 4.24% 3.67%
Cost Of Revenue $2.492B $2.400B
YoY Change 3.83% 0.54%
Gross Profit $509.0M $479.0M
YoY Change 6.26% 22.82%
Gross Profit Margin 16.96% 16.64%
Selling, General & Admin $305.0M $298.0M
YoY Change 2.35% 13.31%
% of Gross Profit 59.92% 62.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $93.00M $90.00M
YoY Change 3.33% 0.0%
% of Gross Profit 18.27% 18.79%
Operating Expenses $305.0M $298.0M
YoY Change 2.35% 13.31%
Operating Profit $204.0M $181.0M
YoY Change 12.71% 42.52%
Interest Expense $33.00M $40.00M
YoY Change -17.5% 0.0%
% of Operating Profit 16.18% 22.1%
Other Income/Expense, Net $61.00M $40.00M
YoY Change 52.5% 90.48%
Pretax Income $232.0M $190.0M
YoY Change 22.11% 175.36%
Income Tax $39.00M $19.00M
% Of Pretax Income 16.81% 10.0%
Net Earnings $193.0M $171.0M
YoY Change 12.87% 242.0%
Net Earnings / Revenue 6.43% 5.94%
Basic Earnings Per Share $0.89 $0.75
Diluted Earnings Per Share $878.8K $0.75
COMMON SHARES
Basic Shares Outstanding 217.0M shares 227.0M shares
Diluted Shares Outstanding 219.6M shares 228.3M shares

Balance Sheet

Concept 2022 Q2 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.126B $2.078B
YoY Change 2.31% -15.04%
Cash & Equivalents $2.126B $2.078B
Short-Term Investments
Other Short-Term Assets $1.055B $899.0M
YoY Change 17.35% -8.64%
Inventory $3.663B $3.705B
Prepaid Expenses
Receivables $800.0M $883.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.644B $7.565B
YoY Change 1.04% -12.9%
LONG-TERM ASSETS
Property, Plant & Equipment $2.855B $2.862B
YoY Change -0.24% 3.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.687B $2.163B
YoY Change 24.23% 29.13%
Total Long-Term Assets $8.267B $7.849B
YoY Change 5.33% 8.1%
TOTAL ASSETS
Total Short-Term Assets $7.644B $7.565B
Total Long-Term Assets $8.267B $7.849B
Total Assets $15.91B $15.41B
YoY Change 3.22% -3.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $823.0M $1.033B
YoY Change -20.33% -21.86%
Accrued Expenses $56.00M $54.00M
YoY Change 3.7% 10.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.000M $257.0M
YoY Change -97.28% -81.59%
Total Short-Term Liabilities $3.337B $3.123B
YoY Change 6.85% -30.83%
LONG-TERM LIABILITIES
Long-Term Debt $3.648B $3.836B
YoY Change -4.9% 5.44%
Other Long-Term Liabilities $2.009B $2.459B
YoY Change -18.3% 8.85%
Total Long-Term Liabilities $5.657B $6.295B
YoY Change -10.14% 6.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.337B $3.123B
Total Long-Term Liabilities $5.657B $6.295B
Total Liabilities $8.994B $9.418B
YoY Change -4.5% -9.55%
SHAREHOLDERS EQUITY
Retained Earnings $6.058B $6.139B
YoY Change -1.32% 7.19%
Common Stock $28.00M $29.00M
YoY Change -3.45% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $314.0M $294.0M
YoY Change 6.8% 297.3%
Treasury Stock Shares
Shareholders Equity $6.917B $5.996B
YoY Change
Total Liabilities & Shareholders Equity $15.91B $15.41B
YoY Change 3.22% -3.34%

Cashflow Statement

Concept 2022 Q2 2021 Q2
OPERATING ACTIVITIES
Net Income $193.0M $171.0M
YoY Change 12.87% 242.0%
Depreciation, Depletion And Amortization $93.00M $90.00M
YoY Change 3.33% 0.0%
Cash From Operating Activities $241.0M $181.0M
YoY Change 33.15% -145.82%
INVESTING ACTIVITIES
Capital Expenditures -$48.00M $53.00M
YoY Change -190.57% 6.0%
Acquisitions
YoY Change
Other Investing Activities -$45.00M -$6.000M
YoY Change 650.0% -200.0%
Cash From Investing Activities $28.00M $5.000M
YoY Change 460.0% -111.63%
FINANCING ACTIVITIES
Cash Dividend Paid $5.000M $5.000M
YoY Change 0.0% 0.0%
Common Stock Issuance & Retirement, Net $157.0M $91.00M
YoY Change 72.53% 68.52%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$258.0M -$359.0M
YoY Change -28.13% -123.27%
NET CHANGE
Cash From Operating Activities $241.0M $181.0M
Cash From Investing Activities $28.00M $5.000M
Cash From Financing Activities -$258.0M -$359.0M
Net Change In Cash $9.000M -$176.0M
YoY Change -105.11% -116.16%
FREE CASH FLOW
Cash From Operating Activities $241.0M $181.0M
Capital Expenditures -$48.00M $53.00M
Free Cash Flow $289.0M $128.0M
YoY Change 125.78% -128.76%

Facts In Submission

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0.21
CY2021Q2 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
12000000 USD
CY2021Q2 txt Special Charges
SpecialCharges
6000000 USD
CY2022Q2 txt Special Charges
SpecialCharges
0 USD
CY2022Q1 us-gaap Restructuring Reserve
RestructuringReserve
28000000 USD
CY2022Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
6000000 USD
CY2022Q2 us-gaap Restructuring Reserve
RestructuringReserve
22000000 USD
CY2022Q2 us-gaap Restructuring Reserve
RestructuringReserve
22000000 USD
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.168
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.100
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21

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