Textron (TXT) 10-Q 23 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 28, 2014	Jul. 12, 2014
Document and Entity Information	'	'
Entity Registrant Name	'TEXTRON INC	'
Entity Central Index Key	'0000217346	'
Document Type	'10-Q	'
Document Period End Date	28-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--01-03	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	279,201,470
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Revenues	'	'	'	'
Manufacturing revenues	$3,478	$2,808	$6,296	$5,621
Finance revenues	27	31	56	73
Total revenues	3,505	2,839	6,352	5,694
Costs and expenses	'	'	'	'
Cost of sales	2,875	2,338	5,232	4,720
Selling and administrative expense	353	296	655	575
Interest expense	47	42	94	93
Acquisition and restructuring costs	20	'	36	'
Total costs and expenses	3,295	2,676	6,017	5,388
Income from continuing operations before income taxes	210	163	335	306
Income tax expense	65	49	103	77
Income from continuing operations	145	114	232	229
Income (loss) from discontinued operations, net of income taxes	-1	-1	-3	3
Net income	$144	$113	$229	$232
Basic earnings per share	'	'	'	'
Continuing operations (in dollars per share)	$0.52	$0.41	$0.83	$0.83
Discontinued operations (in dollars per share)	'	($0.01)	($0.01)	$0.01
Basic earnings per share (in dollars per share)	$0.52	$0.40	$0.82	$0.84
Diluted earnings per share	'	'	'	'
Continuing operations (in dollars per share)	$0.51	$0.40	$0.82	$0.80
Discontinued operations (in dollars per share)	'	'	($0.01)	$0.01
Diluted earnings per share (in dollars per share)	$0.51	$0.40	$0.81	$0.81
Dividends per share	'	'	'	'
Common stock (in dollars per share)	$0.02	$0.02	$0.04	$0.04

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Consolidated Statements of Comprehensive Income	'	'	'	'
Net income	$144	$113	$229	$232
Other comprehensive income, net of tax:	'	'	'	'
Pension and postretirement benefits adjustments, net of reclassifications	27	31	45	63
Deferred gains/losses on hedge contracts, net of reclassifications	14	-6	7	-13
Foreign currency translation adjustments	2	1	-4	-9
Other comprehensive income	43	26	48	41
Comprehensive income	$187	$139	$277	$273

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 28, 2014	Dec. 28, 2013
In Millions, except Share data in Thousands, unless otherwise specified
Assets	'	'
Cash and equivalents	$815	$1,211
Inventories	4,017	2,963
Total assets	15,135	12,944
Liabilities	'	'
Total liabilities	10,557	8,560
Shareholders' equity	'	'
Common stock	35	35
Capital surplus	1,409	1,331
Treasury stock	-150	'
Retained earnings	4,263	4,045
Accumulated other comprehensive loss	-979	-1,027
Total shareholders' equity	4,578	4,384
Total liabilities and shareholders' equity	15,135	12,944
Common shares outstanding	279,748	282,059
Manufacturing group	'	'
Assets	'	'
Cash and equivalents	680	1,163
Accounts receivable, net	1,200	979
Inventories	4,017	2,963
Other current assets	578	467
Total current assets	6,475	5,572
Property, plant and equipment, less accumulated depreciation and amortization of $3,623 and $3,463	2,463	2,215
Goodwill	2,006	1,735
Other assets	2,511	1,697
Total assets	13,455	11,219
Liabilities	'	'
Current portion of long-term debt	358	8
Accounts payable	1,166	1,107
Accrued liabilities	2,433	1,888
Total current liabilities	3,957	3,003
Other liabilities	2,450	2,118
Long-term debt	2,686	1,923
Total liabilities	9,093	7,044
Finance group	'	'
Assets	'	'
Cash and equivalents	135	48
Finance receivables, net	1,367	1,493
Other assets	178	184
Total assets	1,680	1,725
Liabilities	'	'
Other liabilities	251	260
Debt	1,213	1,256
Total liabilities	$1,464	$1,516

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 28, 2014	Dec. 28, 2013
In Millions, unless otherwise specified
Consolidated Balance Sheets	'	'
Accumulated depreciation and amortization	$3,623	$3,463

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Cash flows from operating activities	'	'
Net income	$229	$232
Less: Income (loss) from discontinued operations	-3	3
Income from continuing operations	232	229
Non-cash items:	'	'
Depreciation and amortization	214	192
Deferred income taxes	-14	42
Other, net	56	24
Changes in assets and liabilities:	'	'
Accounts receivable, net	-96	-169
Inventories	-279	-445
Other assets	16	-23
Accounts payable	-98	-61
Accrued and other liabilities	208	-374
Income taxes, net	35	-90
Pension, net	17	-55
Captive finance receivables, net	67	276
Other operating activities, net	-5	-8
Net cash provided by (used in) operating activities of continuing operations	353	-462
Net cash used in operating activities of discontinued operations	-2	-7
Net cash provided by (used in) operating activities	351	-469
Cash flows from investing activities	'	'
Net cash used in acquisitions	-1,550	-53
Capital expenditures	-172	-190
Finance receivables repaid	58	112
Proceeds from sales of receivables and other finance assets	13	53
Other investing activities, net	3	10
Net cash used in investing activities	-1,648	-68
Cash flows from financing activities	'	'
Proceeds from long-term debt	1,151	402
Principal payments on long-term and nonrecourse debt	-121	-925
Purchases of Textron common stock	-150	'
Increase in short-term debt	'	366
Settlement of convertible notes	'	-215
Proceeds from settlement of capped call	'	75
Dividends paid	-11	-11
Other financing activities, net	30	13
Net cash provided by (used in) financing activities	899	-295
Effect of exchange rate changes on cash and equivalents	2	-10
Net decrease in cash and equivalents	-396	-842
Cash and equivalents at beginning of period	1,211	1,413
Cash and equivalents at end of period	815	571
Manufacturing Group	'	'
Cash flows from operating activities	'	'
Net income	222	209
Less: Income (loss) from discontinued operations	-3	3
Income from continuing operations	225	206
Non-cash items:	'	'
Depreciation and amortization	207	182
Deferred income taxes	-5	29
Other, net	48	44
Changes in assets and liabilities:	'	'
Accounts receivable, net	-96	-169
Inventories	-272	-460
Other assets	16	-23
Accounts payable	-98	-61
Accrued and other liabilities	211	-372
Income taxes, net	31	-98
Pension, net	17	-49
Dividends received from Finance Group	'	30
Capital contributions paid to Finance Group	'	-1
Other operating activities, net	-1	'
Net cash provided by (used in) operating activities of continuing operations	283	-742
Net cash used in operating activities of discontinued operations	-2	-7
Net cash provided by (used in) operating activities	281	-749
Cash flows from investing activities	'	'
Net cash used in acquisitions	-1,550	-53
Capital expenditures	-172	-190
Other investing activities, net	-5	17
Net cash used in investing activities	-1,727	-226
Cash flows from financing activities	'	'
Proceeds from long-term debt	1,093	150
Principal payments on long-term and nonrecourse debt	-1	-312
Purchases of Textron common stock	-150	'
Increase in short-term debt	'	366
Settlement of convertible notes	'	-215
Proceeds from settlement of capped call	'	75
Dividends paid	-11	-11
Other financing activities, net	30	13
Net cash provided by (used in) financing activities	961	66
Effect of exchange rate changes on cash and equivalents	2	-10
Net decrease in cash and equivalents	-483	-919
Cash and equivalents at beginning of period	1,163	1,378
Cash and equivalents at end of period	680	459
Finance Group	'	'
Cash flows from operating activities	'	'
Net income	7	23
Income from continuing operations	7	23
Non-cash items:	'	'
Depreciation and amortization	7	10
Deferred income taxes	-9	13
Other, net	8	-20
Changes in assets and liabilities:	'	'
Accrued and other liabilities	-3	-12
Income taxes, net	4	8
Pension, net	'	-6
Other operating activities, net	-4	-8
Net cash provided by (used in) operating activities of continuing operations	10	8
Net cash provided by (used in) operating activities	10	8
Cash flows from investing activities	'	'
Finance receivables repaid	222	422
Finance receivables originated or purchased	-97	-78
Proceeds from sales of receivables and other finance assets	13	77
Other investing activities, net	1	38
Net cash used in investing activities	139	459
Cash flows from financing activities	'	'
Proceeds from long-term debt	58	252
Principal payments on long-term and nonrecourse debt	-120	-613
Dividends paid	'	-30
Capital contributions paid to Finance group	'	1
Net cash provided by (used in) financing activities	-62	-390
Net decrease in cash and equivalents	87	77
Cash and equivalents at beginning of period	48	35
Cash and equivalents at end of period	$135	$112

Basis_of_Presentation

Basis of Presentation	6 Months Ended
	Jun. 28, 2014
Basis of Presentation	'
Basis of Presentation	'
	Note 1.  Basis of Presentation
	Our Consolidated Financial Statements include the accounts of Textron Inc. (Textron) and its majority-owned subsidiaries.  On March 14, 2014, we completed the acquisition of all of the outstanding equity interests in Beech Holdings, LLC, which included Beechcraft Corporation and other subsidiaries, (collectively “Beechcraft”). The results of Beechcraft have been included in our consolidated financial statements only for the period subsequent to the completion of the acquisition. As a result, the consolidated financial results for the six months ended June 28, 2014 do not reflect a full six months of Beechcraft operations.
	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, 2013.  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 Bell, Textron Systems and Industrial segments, and the recently formed Textron Aviation segment, which includes the legacy Cessna segment and the acquired Beechcraft business. The Finance group, which also is the Finance segment, consists of Textron Financial Corporation (TFC) 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 and wholesale 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.
	During 2014 and 2013, we changed our estimates of revenues and costs on certain long-term contracts that are accounted for under the percentage-of-completion method of accounting.  These changes in estimates increased income from continuing operations before income taxes in the second quarter of 2014 and 2013 by $38 million and $2 million, respectively, ($24 million and $1 million after tax, or $0.09 and $0.00 per diluted share, respectively). For the second quarter of 2014 and 2013, the gross favorable program profit adjustments totaled $41 million and $9 million, respectively, and the gross unfavorable program profit adjustments totaled $3 million and $7 million, respectively.  Gross favorable program profit adjustments for the second quarter of 2014 included $16 million related to the settlement of the System Development and Demonstration phase of the Armed Reconnaissance Helicopter (ARH) program, which was terminated in October 2008.
	The changes in estimates increased income from continuing operations before income taxes in the first half of 2014 and 2013 by $59 million and $9 million, ($37 million and $6 million after tax, or $0.13 and $0.02 per diluted share, respectively).  For the first half of 2014 and 2013, the gross favorable program profit adjustments totaled $65 million and $18 million, respectively, and the gross unfavorable program profit adjustments totaled $6 million and $9 million, respectively.  Gross favorable program profit adjustments for the first half of 2014 included $16 million related to the ARH program as described above.
	New Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, “Revenue from Contracts with Customers,” that outlines a comprehensive five-step revenue recognition model based on the principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.  Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption. This ASU is effective for our company at the beginning of fiscal 2017; early adoption is not permitted. We are currently evaluating the new guidance to determine the impact it is expected to have on our consolidated financial statements, along with the transition method we expect to utilize.

Business_Acquisitions

Business Acquisitions	6 Months Ended
	Jun. 28, 2014
Business Acquisitions	'
Business Acquisitions	'
	Note 2.  Business Acquisitions
	2014 Beechcraft Acquisition
	On March 14, 2014, we acquired Beechcraft for an aggregate cash payment of $1.5 billion that included a repayment of a portion of Beechcraft’s working capital credit facility at closing. We financed a portion of the purchase price with the issuance of $600 million in senior notes on January 30, 2014 and by drawing $500 million under the five-year term loan agreement entered into on January 24, 2014.  The balance was paid from cash on hand.
	Beechcraft is a leading manufacturer of business, special mission, light attack and trainer aircraft, including the King Air turboprops, piston-engine Baron and Bonanza, and the T-6 trainer and AT-6 light attack military aircraft. Beechcraft also has a global network of both factory-owned and authorized service centers.  The acquisition of Beechcraft and the formation of the Textron Aviation segment provide increased scale and complementary product offerings, allowing us to strengthen our position across the aviation industry and enhance our ability to support our customers.
	The consideration paid for this business was allocated on a preliminary basis to the assets acquired and liabilities assumed based on their estimated fair values at the acquisition date.  Due to the size and breadth of this acquisition, additional time is necessary to complete the purchase accounting, primarily related to the fair values of certain assets and liabilities.  We will finalize the purchase accounting as soon as reasonably possible during the one-year-measurement period allowed under generally accepted accounting principles.  Any potential adjustments to the preliminary fair values could be material.  Our current preliminary allocation of the purchase price is presented below.
	(In millions)
	Accounts receivable	$	116
	Inventories	770
	Other current assets	179
	Property, plant and equipment	260
	Intangible assets	594
	Goodwill	208
	Other assets	185
	Accounts payable	(143		)
	Accrued liabilities	(293		)
	Other liabilities	(398		)
	Total net assets acquired	$	1,478
	Goodwill of $208 million was primarily related to expected synergies from combining operations and the value of the existing workforce, and intangible assets of $594 million primarily included unpatented technology related to original equipment manufactured parts and designs and customer relationships valued at $386 million and trade names valued at $208 million.  The unpatented technology and customer relationships assets have a life of 15 years, resulting in amortization expense in the range of approximately $18 million to $32 million annually.  Substantially all of the trade names intangible asset has an indefinite life and therefore is not subject to amortization.
	We acquired tax-deductible goodwill of approximately $260 million in this transaction. We also recorded unrecognized tax benefits of approximately $90 million at the acquisition date.
	In connection with the integration of Beechcraft, we initiated a restructuring program in our Textron Aviation segment in the first quarter of 2014 to align the Cessna and Beechcraft businesses, reduce operating redundancies and maximize efficiencies. We expect to incur costs for this program related to employee terminations, facility consolidations, contract terminations and other transition-related costs, and estimate that this program will result in charges of approximately $35 million in 2014.  We expect to incur additional costs in 2015, but do not expect these costs to be material.   In the second quarter and first half of 2014, we recorded charges of $20 million and $25 million, respectively, related to restructuring activities that were included in the Acquisition and restructuring costs line on the Consolidated Statements of Operations.  In addition, we incurred transaction costs related to the acquisition of $11 million during the first quarter of 2014 that were also included in the Acquisition and restructuring costs line.
	Other 2014 Acquisitions
	During the first half of 2014, we made aggregate cash payments of $71 million for the following acquisitions within our Industrial segment:
	·         Tug Technologies Corporation, a manufacturer of ground support equipment in the aviation industry, acquired on May 2, 2014.
	·         The assets of Dixie Chopper, a manufacturer of zero-turn radius mowers for the commercial and residential markets, acquired on February 6, 2014.
	Actual and Pro-Forma Impact from 2014 Acquisitions
	The operating results for the 2014 acquisitions are included in the Consolidated Statement of Operations since their respective closing dates.  From the closing dates through June 28, 2014, revenues related to these acquisitions totaled $452 million and $558 million for the three- and six-month periods, respectively.  The cost structures of Beechcraft and Cessna have been significantly integrated since the acquisition of Beechcraft, therefore, it is not possible to separately report earnings for this acquisition.  The earnings related to the other 2014 acquisitions were not significant.
	The unaudited supplemental pro-forma data included in the table below presents consolidated information as if our 2014 acquisitions had been completed on December 30, 2012.  This pro-forma information should not be considered indicative of the results that would have occurred if the acquisition and related financing had been consummated on December 30, 2012, nor are they necessarily indicative of future results as they do not reflect the potential realization of cost savings and synergies associated with the acquisition.
		Three Months Ended			Six Months Ended
	(In millions, except per share amounts)	June 28,		June 29,	June 28,	June 29,
		2014		2013	2014	2013
	Revenues	$    3,513		$    3,296	$    6,715	$    6,599
	Income from continuing operations, net of income taxes	181		102	293	201
	Diluted earnings per share from continuing operations	$0.64		$0.36	$1.04	$0.70
	Certain pro-forma adjustments were made to reflect the allocation of the preliminary purchase price to the acquired net assets including depreciation and intangible amortization expense, resulting from the valuation of tangible and intangible assets, and amortization of inventory fair value step-up adjustments, along with the related tax effects.  The pro-forma results for 2013 were also adjusted to include transaction and restructuring costs of $20 million and $36 million for the three- and six-month periods, respectively, related to the Beechcraft acquisition; these costs were excluded from the 2014 pro-forma results. In addition, the pro- forma results exclude the financial impact related to Beechcraft’s emergence from bankruptcy in 2013.

Retirement_Plans

Retirement Plans	6 Months Ended
	Jun. 28, 2014
Retirement Plans	'
Retirement Plans	'
	Note 3.  Retirement Plans
	We provide defined benefit pension plans and other postretirement benefits to eligible employees. The components of net periodic benefit cost for these plans are as follows:
		Pension Benefits				Postretirement Benefits
						Other Than Pensions
	(In millions)	June 28,		June 29,		June 28,		June 29,
		2014		2013		2014		2013
	Three Months Ended
	Service cost	$      27		$      34		$      1		$      2
	Interest cost	85		73		5		5
	Expected return on plan assets	(117	)	(105	)	—		—
	Amortization of prior service cost (credit)	4		3		(5	)	(2	)
	Amortization of net actuarial loss	28		46		—		1
	Net periodic benefit cost	$      27		$      51		$      1		$      6
	Six Months Ended
	Service cost	$      54		$      67		$      2		$      4
	Interest cost	164		146		10		10
	Expected return on plan assets	(228	)	(210	)	—		—
	Amortization of prior service cost (credit)	8		7		(11	)	(5	)
	Amortization of net actuarial loss	56		92		1		3
	Net periodic benefit cost	$      54		$     102		$     2		$      12

Earnings_Per_Share

Earnings Per Share	6 Months Ended
	Jun. 28, 2014
Earnings Per Share	'
Earnings Per Share	'
	Note 4.  Earnings Per Share
	In February 2014, we entered into an Accelerated Share Repurchase agreement (ASR) with a counterparty and repurchased 4.3 million shares of our outstanding common stock from the counterparty for $150 million. The initial delivery of shares resulted in an immediate reduction of the outstanding shares used to calculate the weighted average common shares for basic and diluted earnings per share. The ASR is scheduled to settle in December 2014. Upon final settlement of the ASR, we may receive additional shares or pay additional cash or shares, at our option, based on the daily volume weighted average market price (VWAP) of our common stock over the course of the calculation period, less a discount. We intend to settle any amount payable by us in shares. At June 28, 2014, based on the VWAP through that date, we would be required to issue to the counterparty approximately 442,000 shares to settle the ASR. For accounting purposes, the ASR is considered a treasury stock purchase for the 4.3 million shares delivered to us by the counterparty, and a forward contract indexed to our common stock for the shares to be delivered upon settlement, if any. The forward contract is not required to be separately accounted for as a derivative.
	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, restricted stock units and shares that would have been delivered if the ASR were settled at June 28, 2014. In addition, for the first half of 2013, prior to the maturity of our convertible notes on May 1, 2013 as disclosed in Note 7 of our 2013 Annual Report on Form 10-K, diluted EPS included the shares that could have been issued upon the conversion of the notes and upon the exercise of the related warrants.
	The weighted-average shares outstanding for basic and diluted EPS are as follows:
		Three Months Ended		Six Months Ended
	(In thousands)	June 28,	June 29,	June 28,	June 29,
		2014	2013	2014	2013
	Basic weighted-average shares outstanding	280,280	280,163	280,715	276,682
	Dilutive effect of:
	Stock options and restricted stock units	2,042	117	2,072	227
	ASR	442	—	312	—
	Convertible notes and warrants	—	3,544	—	9,360
	Diluted weighted-average shares outstanding	282,764	283,824	283,099	286,269
	Stock options to purchase 2 million shares of common stock outstanding are excluded from our calculation of diluted weighted-average shares outstanding for the three and six months ended June 28, 2014, as their effect would have been anti-dilutive.  Stock options to purchase 6 million shares of common stock outstanding are excluded from our calculation of diluted weighted-average shares outstanding for both the three and six months ended June 29, 2013, as their effect would have been anti-dilutive.

Accounts_Receivable_and_Financ

Accounts Receivable and Finance Receivables	6 Months Ended
	Jun. 28, 2014
Accounts Receivable and Finance Receivables	'
Accounts Receivable and Finance Receivables	'
	Note 5.  Accounts Receivable and Finance Receivables
	Accounts Receivable
	Accounts receivable is composed of the following:
	(In millions)	June 28,				December 28,
		2014				2013
	Commercial	$	900			$	654
	U.S. Government contracts	325				347
		1,225				1,001
	Allowance for doubtful accounts	(25		)		(22		)
	Total	$	1,200			$	979
	We have unbillable receivables, primarily on U.S. Government contracts, that arise when the revenues we have appropriately recognized based on performance cannot be billed yet under terms of the contract.  Unbillable receivables within accounts receivable totaled $146 million at June 28, 2014 and $163 million at December 28, 2013.
	Finance Receivables
	Finance receivables by classification are presented in the following table:
	(In millions)	June 28,			December 28,
		2014			2013
	Finance receivables held for investment	$	1,384		$	1,483
	Allowance for losses	(54		)	(55		)
	Total finance receivables held for investment, net	1,330			1,428
	Finance receivables held for sale	37			65
	Total finance receivables, net	$	1,367		$	1,493
	Credit Quality Indicators and Nonaccrual Finance Receivables
	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.  Recognition of interest income is suspended for these accounts and all cash collections are used to reduce the net investment balance.  We resume the accrual of interest when the loan becomes contractually current through payment according to the original terms of the loan or, if a loan has been modified, following a period of performance under the terms of the modification, provided we conclude that collection of all principal and interest is no longer doubtful.  Previously suspended interest income is recognized at that time.  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.
	A summary of finance receivables categorized based on the credit quality indicators discussed above is as follows:
	(In millions)	June 28,			December 28,
		2014			2013
	Performing	$	1,176		$	1,285
	Watchlist	120			93
	Nonaccrual	88			105
	Total	$	1,384		$	1,483
	Nonaccrual as a percentage of total finance receivables	6.36		%	7.08		%
	We measure delinquency based on the contractual payment terms of our loans and leases.  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 by delinquency aging category are summarized in the table below:
	(In millions)	June 28,			December 28,
		2014			2013
	Less than 31 days past due	$	1,201		$	1,295
	31-60 days past due	87			108
	61-90 days past due	76			37
	Over 90 days past due	20			43
	Total	$	1,384		$	1,483
	There were no significant accrual status loans greater than 90 days past due at June 28, 2014.  Accrual status loans that were greater than 90 days past due totaled $5 million at December 28, 2013.  At June 28, 2014 and December 28, 2013, 60+ days contractual delinquency as a percentage of finance receivables was 6.94% and 5.39%, respectively.
	Loan Modifications
	Troubled debt restructurings occur when we have either modified the contract terms of finance receivables for borrowers experiencing financial difficulties or accepted a transfer of assets in full or partial satisfaction of the loan balance.  The types of modifications we typically make include extensions of the original maturity date of the contract, delays in the timing of required principal payments and deferrals of interest payments. The changes effected by modifications made during the first half of 2014 and 2013 to finance receivables were not material.
	Impaired Loans
	On a quarterly basis, we evaluate individual finance receivables for impairment in non-homogeneous portfolios and larger balance accounts in homogeneous loan portfolios. 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 discussed 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. Interest income recognized on impaired loans was not significant in the first half of 2014 or 2013.
	A summary of impaired finance receivables, excluding leveraged leases, and the average recorded investment is provided below:
	(In millions)	June 28,				December 28,
		2014				2013
	Recorded investment:
	Impaired loans with related allowance for losses	$	66			$	59
	Impaired loans with no related allowance for losses	34				78
	Total	$	100			$	137
	Unpaid principal balance	$	104			$	141
	Allowance for losses on impaired loans	18				14
	Average recorded investment	111				155
	A summary of the allowance for losses on finance receivables that are evaluated on an individual basis and on a collective basis is provided below. The finance receivables included in the table below excludes leveraged leases in accordance with generally accepted accounting principles.
	(In millions)	June 28,				December 28,
		2014				2013
	Allowance based on collective evaluation	$	36			$	41
	Allowance based on individual evaluation	18				14
	Finance receivables evaluated collectively	$	1,164			$	1,226
	Finance receivables evaluated individually	100				137
	Allowance for Losses
We maintain the allowance for losses on finance receivables at a level considered adequate to cover inherent losses in the portfolio based on management’s evaluation. For larger balance accounts specifically identified as impaired, a reserve is established based on comparing the expected future cash flows, discounted at the finance receivable’s effective interest rate, or the fair value of the underlying collateral if the finance receivable is collateral dependent, to its carrying amount. The expected future cash flows consider collateral value; financial performance and liquidity of our borrower; existence and financial strength of guarantors; estimated recovery costs, including legal expenses; and costs associated with the repossession and eventual disposal of collateral. When there is a range of potential outcomes, we perform multiple discounted cash flow analyses and weight the potential outcomes based on their relative likelihood of occurrence. The evaluation of our portfolio is inherently subjective, as it requires estimates, including the amount and timing of future cash flows expected to be received on impaired finance receivables and the estimated fair value of the underlying collateral, which may differ from actual results. While our analysis is specific to each individual account, critical factors included in this analysis are industry valuation guides, age and physical condition of the collateral, payment history and existence and financial strength of guarantors.
We also establish an allowance for losses to cover probable but specifically unknown losses existing in the portfolio. The allowance is established as a percentage of non-recourse finance receivables, which have not been identified as requiring specific reserves. The percentage is based on a combination of factors, including historical loss experience, current delinquency and default trends, collateral values and both general economic and specific industry trends. Finance receivables are charged off at the earlier of the date the collateral is repossessed or when no payment has been received for six months, unless management deems the receivable collectible.
A rollforward of the allowance for losses on finance receivables is provided below:
	Six Months Ended
(In millions)	June 28,			June 29,
	2014			2013
Balance at the beginning of period	$	55		$	84
Provision for losses	6			(16		)
Charge-offs	(10		)	(8		)
Recoveries	3			7
Balance at the end of period	$	54		$	67

Inventories

Inventories	6 Months Ended
	Jun. 28, 2014
Inventories	'
Inventories	'
	Note 6.  Inventories
	Inventories are composed of the following:
	(In millions)	June 28,			December 28,
		2014			2013
	Finished goods	$	1,641		$	1,276
	Work in process	2,876			2,477
	Raw materials and components	591			407
		5,108			4,160
	Progress/milestone payments	(1,091		)	(1,197		)
	Total	$	4,017		$	2,963

Accrued_Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 28, 2014
Accrued Liabilities	'
Accrued Liabilities	'
	Note 7.  Accrued Liabilities
	We provide limited warranty and product maintenance programs, including parts and labor, for certain products for periods ranging from one to five years. Changes in our warranty and product maintenance liabilities are as follows:
		Six Months Ended
	(In millions)	June 28,			June 29,
		2014			2013
	Accrual at the beginning of period	$	223		$	222
	Provision	151			132
	Settlements	(144		)	(137		)
	Acquisitions	58			—
	Adjustments*	(6		)	—
	Accrual at the end of period	$	282		$	217
	* Adjustments include changes to prior year estimates, new issues on prior year sales and currency translation adjustments.

Debt

Debt	6 Months Ended
	Jun. 28, 2014
Debt	'
Debt	'
	Note 8.  Debt
	On January 24, 2014, we entered into a five-year term loan agreement with a syndicate of banks in the principal amount of $500 million. On January 30, 2014, we issued $250 million in 3.65% notes due 2021 and $350 million in 4.30% notes due 2024 under our shelf registration statement.  Upon the closing of the Beechcraft acquisition on March 14, 2014, we fully drew down on the five-year term loan and used the cash, along with the net proceeds of the issuance of the notes, to finance a portion of the acquisition.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss and Other Comprehensive Income	6 Months Ended
	Jun. 28, 2014
Accumulated Other Comprehensive Loss and Other Comprehensive Income	'
Accumulated Other Comprehensive Loss and Other Comprehensive Income	'
	Note 9.  Accumulated Other Comprehensive Loss and Other Comprehensive Income
	The components of Accumulated Other Comprehensive Loss are presented below:
	(In millions)	Foreign			Pension and			Deferred			Accumulated
		Currency			Postretirement Benefits			Gains/Losses			Other
		Translation			Adjustments			on Hedge			Comprehensive Loss
		Adjustments						Contracts
	For the six months ended June 28, 2014
	Beginning balance	$	93		$	(1,110	)	$	-10		$	-1,027
	Other comprehensive income (loss) before reclassifications	(4		)	9			2			7
	Amounts reclassified from Accumulated Other Comprehensive Loss	—			36			5			41
	Other comprehensive income (loss)	(4		)	45			7			48
	Ending balance	$	89		$	(1,065	)	$	-3		$	-979
	For the six months ended June 29, 2013
	Beginning balance	$	81		$	(1,857	)	$	6		$	-1,770
	Other comprehensive loss before reclassifications	(9		)	—			-11			-20
	Amounts reclassified from Accumulated Other Comprehensive Loss	—			63			-2			61
	Other comprehensive income (loss)	(9		)	63			-13			41
	Ending balance	$	72		$	(1,794	)	$	-7		$	-1,729
	The before and after-tax components of Other Comprehensive Income are presented below:
	(In millions)	Pre-Tax			Tax			After-Tax
		Amount			(Expense)			Amount
					Benefit
	For the three months ended June 28, 2014
	Pension and postretirement benefits adjustments:
	Amortization of net actuarial loss*	$	28		$	(10	)	$	18
	Amortization of prior service credit*	(1		)	1			—
	Amendment to postretirement benefit plan	15			(6		)	9
	Pension and postretirement benefits adjustments, net	42			(15		)	27
	Deferred gains/losses on hedge contracts:
	Current deferrals	13			(2		)	11
	Reclassification adjustments	5			(2		)	3
	Deferred gains/losses on hedge contracts, net	18			(4		)	14
	Foreign currency translation adjustments	—			2			2
	Total	$	60		$	(17	)	$	43
	For the three months ended June 29, 2013
	Pension and postretirement benefits adjustments:
	Amortization of net actuarial loss*	$	47		$	(16	)	$	31
	Amortization of prior service cost*	1			(1		)	—
	Pension and postretirement benefits adjustments, net	48			(17		)	31
	Deferred gains/losses on hedge contracts:
	Current deferrals	(8		)	2			(6		)
	Reclassification adjustments	(1		)	1			—
	Deferred gains/losses on hedge contracts, net	(9		)	3			(6		)
	Foreign currency translation adjustments	—			1			1
	Total	$	39		$	(13	)	$	26
	For the six months ended June 28, 2014
	Pension and postretirement benefits adjustments:
	Amortization of net actuarial loss*	$	57		$	(20	)	$	37
	Amortization of prior service credit*	(3		)	2			(1		)
	Amendment to postretirement benefit plan	15			(6		)	9
	Pension and postretirement benefits adjustments, net	69			(24		)	45
	Deferred gains/losses on hedge contracts:
	Current deferrals	2			—			2
	Reclassification adjustments	7			(2		)	5
	Deferred gains/losses on hedge contracts, net	9			(2		)	7
	Foreign currency translation adjustments	(7		)	3			(4		)
	Total	$	71		$	(23	)	$	48
	For the six months ended June 29, 2013
	Pension and postretirement benefits adjustments:
	Amortization of net actuarial loss*	$	95		$	(33	)	$	62
	Amortization of prior service cost*	2			(1		)	1
	Pension and postretirement benefits adjustments, net	97			(34		)	63
	Deferred gains/losses on hedge contracts:
Current deferrals	(14		)	3			(11		)
Reclassification adjustments	(3		)	1			(2		)
Deferred gains/losses on hedge contracts, net	(17		)	4			(13		)
Foreign currency translation adjustments	(2		)	(7		)	(9		)
Total	$	78		$	(37	)	$	41
*These components of other comprehensive income are included in the computation of net periodic pension cost.  See Note 11 of our 2013 Annual Report on Form 10-K for additional information.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 28, 2014
Commitments and Contingencies	'
Commitments and Contingencies	'
	Note 10.  Commitments and Contingencies
	We are subject to 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; production partners; product liability; patent and trademark infringement; employment disputes; and environmental, safety and health 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.

Derivative_Instruments_and_Fai

Derivative Instruments and Fair Value Measurements	6 Months Ended
	Jun. 28, 2014
Derivative Instruments and Fair Value Measurements	'
Derivative Instruments and Fair Value Measurements	'
	Note 11.  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 utilize foreign currency exchange contracts to manage this volatility.  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 June 28, 2014 and December 28, 2013, we had foreign currency exchange contracts with notional amounts upon which the contracts were based of $737 million and $636 million, respectively.  At June 28, 2014, the fair value amounts of our foreign currency exchange contracts were a $2 million asset and a $3 million liability.  At December 28, 2013, the fair value amounts of our foreign currency exchange contracts were a $2 million asset and a $15 million liability.
	We primarily utilize forward exchange contracts which have maturities of no more than three years.  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.  At June 28, 2014, we had a net deferred loss of $3 million in Accumulated other comprehensive loss related to these cash flow hedges.  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.
	We hedge our net investment position in major currencies and generate foreign currency interest payments that offset other transactional exposures in these currencies. To accomplish this, we borrow directly in foreign currency and designate a portion of foreign currency debt as a hedge of a net investment. We record changes in the fair value of these contracts in other comprehensive income to the extent they are effective as cash flow hedges.  Currency effects on the effective portion of these hedges, which are reflected in the foreign currency translation adjustments within Accumulated other comprehensive loss, were not significant in the periods presented.
	Our Finance group has entered into interest rate exchange contracts to mitigate exposure to changes in the fair value of its fixed-rate receivables and debt due to fluctuations in interest rates.  These interest rate exchange contracts are not exchange traded and are measured at fair value utilizing widely accepted, third-party developed valuation models.  The actual terms of each individual contract are entered into a valuation model, along with interest rate data, which is based on readily observable market data published by third-party leading financial news and data providers.  At June 28, 2014 and December 28, 2013, we had interest rate exchange contracts with notional amounts upon which the contracts were based of $179 million and $229 million, respectively.  The fair value amounts of our interest rate exchange contracts were a $2 million asset and a $4 million liability at June 28, 2014.  At December 28, 2013, the fair value amounts of our interest rate exchange contracts were a $2 million asset and $5 million liability.
	Our exposure to loss from nonperformance by the counterparties to our derivative agreements at June 28, 2014 was minimal.  We do not anticipate nonperformance by counterparties in the periodic settlements of amounts due. We historically have minimized this potential for risk by entering into contracts exclusively with major, financially sound counterparties having no less than a long-term bond rating of A.  The credit risk generally is limited to the amount by which the counterparties’ contractual obligations exceed our obligations to the counterparty.  We continuously monitor our exposures to ensure that we limit our risks.
	Assets Recorded at Fair Value on a Nonrecurring Basis
	During the periods ended June 28, 2014 and December 28, 2013, the Finance group’s impaired nonaccrual finance receivables of $48 million and $45 million, respectively, were measured at fair value on a nonrecurring basis using significant unobservable inputs (Level 3).  Impaired nonaccrual finance receivables represent assets recorded at fair value on a nonrecurring basis since the measurement of required reserves on our impaired finance receivables is significantly dependent on the fair value of the underlying collateral. For impaired nonaccrual finance receivables secured by aviation assets, the fair values of collateral are determined primarily based on the use of industry pricing guides. Fair value measurements recorded on impaired finance receivables resulted in charges to provision for loan losses and primarily related to initial fair value adjustments. These charges totaled $6 million and $11 million for the three and six months ended June 28, 2014, respectively, and $2 million and $5 million for the three and six months ended June 29, 2013, respectively.
	Assets and Liabilities Not Recorded at Fair Value
	The carrying value and estimated fair values of our financial instruments that are not reflected in the financial statements at fair value are as follows:
		June 28, 2014			December 28, 2013
	(In millions)	Carrying		Estimated Fair	Carrying		Estimated Fair
		Value		Value	Value		Value
	Manufacturing group
	Long-term debt, excluding leases	$  (2,971	)	$  (3,212)	$  (1,854	)	$  (2,027)
	Finance group
	Finance receivables held for investment, excluding leases	1,128		1,201	1,231		1,290
	Debt	(1,213	)	-1,218	(1,256	)	-1,244
	Fair value for the Manufacturing group debt is determined using market observable data for similar transactions or Level 2 inputs.  At June 28, 2014 and December 28, 2013, approximately 31% and 30%, respectively, of the fair value of term debt for the Finance group was determined based on observable market transactions (Level 1).  The remaining Finance group debt was determined 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 held for investment 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.

Income_Tax_Expense

Income Tax Expense	6 Months Ended
	Jun. 28, 2014
Income Tax Expense	'
Income Tax Expense	'
	Note 12.  Income Tax Expense
	Income tax expense equated to an effective income tax rate of 31.0% and 30.7% in the second quarter and the first half of 2014, respectively, compared with the U.S. federal statutory income tax rate of 35.0%.  In the second quarter and first half of 2014, the difference between the statutory and the effective income tax rate was primarily due to benefits from income attributable to international operations in countries with lower tax rates.
	Income tax expense equated to an effective income tax rate of 30.1% and 25.2% in the second quarter and first half of 2013, respectively, compared with the U.S. federal statutory income tax rate of 35.0%.  In the second quarter of 2013, the difference between the statutory and the effective income tax rate was primarily due to benefits from income attributable to international operations in countries with lower tax rates.  In the first half of 2013, the difference between the statutory and the effective income tax rate was primarily due to benefits from income attributable to international operations in countries with lower tax rates and a favorable impact of five percentage points, resulting from the retroactive reinstatement and extension of the Federal Research and Development Tax Credit as part of the American Taxpayer Relief Act of 2012 enacted on January 2, 2013, which primarily impacted the first quarter of 2013.

Segment_Information

Segment Information	6 Months Ended
	Jun. 28, 2014
Segment Information	'
Segment Information	'
	Note 13.  Segment Information
	We operate in, and report financial information for, the following five business segments: Bell, Textron Systems, Industrial, Finance and the recently formed Textron Aviation segment as discussed in Note 1.
	Segment 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 acquisition and restructuring costs related to the Beechcraft acquisition. The measurement for the Finance segment includes interest income and expense along with intercompany interest expense. Our revenues by segment and a reconciliation of segment profit to income from continuing operations before income taxes are as follows:
		Three Months Ended					Six Months Ended
	(In millions)	June 28,		June 29,			June 28,		June 29,
		2014		2013			2014		2013
	REVENUES
	Manufacturing group
	Textron Aviation	$	1,183	$	560		$	1,968	$	1,268
	Bell	1,119		1,025			1,992		1,974
	Textron Systems	282		422			645		851
	Industrial	894		801			1,691		1,528
		3,478		2,808			6,296		5,621
	Finance segment	27		31			56		73
	Total revenues	$	3,505	$	2,839		$	6,352	$	5,694
	SEGMENT PROFIT
	Manufacturing Group
	Textron Aviation	$	28	$	(50	)	$	42	$	(58	)
	Bell	141		135			237		264
	Textron Systems	34		34			73		72
	Industrial	94		79			160		136
		297		198			512		414
	Finance segment	7		15			11		34
	Segment profit	304		213			523		448
	Corporate expenses and other, net	-38		(20		)	-81		(75		)
	Interest expense, net for Manufacturing group	-36		(30		)	-71		(67		)
	Acquisition and restructuring costs	-20		—			-36		—
	Income from continuing operations before income taxes	$	210	$	163		$	335	$	306

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 28, 2014
Basis of Presentation	'
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.
	During 2014 and 2013, we changed our estimates of revenues and costs on certain long-term contracts that are accounted for under the percentage-of-completion method of accounting.  These changes in estimates increased income from continuing operations before income taxes in the second quarter of 2014 and 2013 by $38 million and $2 million, respectively, ($24 million and $1 million after tax, or $0.09 and $0.00 per diluted share, respectively). For the second quarter of 2014 and 2013, the gross favorable program profit adjustments totaled $41 million and $9 million, respectively, and the gross unfavorable program profit adjustments totaled $3 million and $7 million, respectively.  Gross favorable program profit adjustments for the second quarter of 2014 included $16 million related to the settlement of the System Development and Demonstration phase of the Armed Reconnaissance Helicopter (ARH) program, which was terminated in October 2008.
	The changes in estimates increased income from continuing operations before income taxes in the first half of 2014 and 2013 by $59 million and $9 million, ($37 million and $6 million after tax, or $0.13 and $0.02 per diluted share, respectively).  For the first half of 2014 and 2013, the gross favorable program profit adjustments totaled $65 million and $18 million, respectively, and the gross unfavorable program profit adjustments totaled $6 million and $9 million, respectively.  Gross favorable program profit adjustments for the first half of 2014 included $16 million related to the ARH program as described above.
New Accounting Pronouncements	'
	New Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, “Revenue from Contracts with Customers,” that outlines a comprehensive five-step revenue recognition model based on the principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.  Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption. This ASU is effective for our company at the beginning of fiscal 2017; early adoption is not permitted. We are currently evaluating the new guidance to determine the impact it is expected to have on our consolidated financial statements, along with the transition method we expect to utilize.

Business_Acquisitions_Tables

Business Acquisitions (Tables)	6 Months Ended
	Jun. 28, 2014
Business Acquisitions	'
Current preliminary allocation of the purchase price	'
	(In millions)
	Accounts receivable	$	116
	Inventories	770
	Other current assets	179
	Property, plant and equipment	260
	Intangible assets	594
	Goodwill	208
	Other assets	185
	Accounts payable	(143		)
	Accrued liabilities	(293		)
	Other liabilities	(398		)
	Total net assets acquired	$	1,478
Schedule of pro-forma consolidated financial information	'
		Three Months Ended			Six Months Ended
	(In millions, except per share amounts)	June 28,		June 29,	June 28,	June 29,
		2014		2013	2014	2013
	Revenues	$    3,513		$    3,296	$    6,715	$    6,599
	Income from continuing operations, net of income taxes	181		102	293	201
	Diluted earnings per share from continuing operations	$0.64		$0.36	$1.04	$0.70

Retirement_Plans_Tables

Retirement Plans (Tables)	6 Months Ended
	Jun. 28, 2014
Retirement Plans	'
Components of net periodic benefit cost	'
		Pension Benefits				Postretirement Benefits
						Other Than Pensions
	(In millions)	June 28,		June 29,		June 28,		June 29,
		2014		2013		2014		2013
	Three Months Ended
	Service cost	$      27		$      34		$      1		$      2
	Interest cost	85		73		5		5
	Expected return on plan assets	(117	)	(105	)	—		—
	Amortization of prior service cost (credit)	4		3		(5	)	(2	)
	Amortization of net actuarial loss	28		46		—		1
	Net periodic benefit cost	$      27		$      51		$      1		$      6
	Six Months Ended
	Service cost	$      54		$      67		$      2		$      4
	Interest cost	164		146		10		10
	Expected return on plan assets	(228	)	(210	)	—		—
	Amortization of prior service cost (credit)	8		7		(11	)	(5	)
	Amortization of net actuarial loss	56		92		1		3
	Net periodic benefit cost	$      54		$     102		$     2		$      12

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	6 Months Ended
	Jun. 28, 2014
Earnings Per Share	'
Weighted-average shares outstanding for basic and diluted EPS	'
		Three Months Ended		Six Months Ended
	(In thousands)	June 28,	June 29,	June 28,	June 29,
		2014	2013	2014	2013
	Basic weighted-average shares outstanding	280,280	280,163	280,715	276,682
	Dilutive effect of:
	Stock options and restricted stock units	2,042	117	2,072	227
	ASR	442	—	312	—
	Convertible notes and warrants	—	3,544	—	9,360
	Diluted weighted-average shares outstanding	282,764	283,824	283,099	286,269

Accounts_Receivable_and_Financ1

Accounts Receivable and Finance Receivables (Tables)	6 Months Ended
	Jun. 28, 2014
Accounts Receivable and Finance Receivables	'
Accounts Receivable	'
	(In millions)	June 28,				December 28,
		2014				2013
	Commercial	$	900			$	654
	U.S. Government contracts	325				347
		1,225				1,001
	Allowance for doubtful accounts	(25		)		(22		)
	Total	$	1,200			$	979
Finance Receivables	'
	(In millions)	June 28,			December 28,
		2014			2013
	Finance receivables held for investment	$	1,384		$	1,483
	Allowance for losses	(54		)	(55		)
	Total finance receivables held for investment, net	1,330			1,428
	Finance receivables held for sale	37			65
	Total finance receivables, net	$	1,367		$	1,493
Finance receivables categorized based on the internally assigned credit quality	'
	(In millions)	June 28,			December 28,
		2014			2013
	Performing	$	1,176		$	1,285
	Watchlist	120			93
	Nonaccrual	88			105
	Total	$	1,384		$	1,483
	Nonaccrual as a percentage of total finance receivables	6.36		%	7.08		%
Finance receivables by delinquency aging	'
	(In millions)	June 28,			December 28,
		2014			2013
	Less than 31 days past due	$	1,201		$	1,295
	31-60 days past due	87			108
	61-90 days past due	76			37
	Over 90 days past due	20			43
	Total	$	1,384		$	1,483
Summary of impaired finance receivables, excluding leveraged leases, and the average recorded investment	'
	(In millions)	June 28,				December 28,
		2014				2013
	Recorded investment:
	Impaired loans with related allowance for losses	$	66			$	59
	Impaired loans with no related allowance for losses	34				78
	Total	$	100			$	137
	Unpaid principal balance	$	104			$	141
	Allowance for losses on impaired loans	18				14
	Average recorded investment	111				155
Allowance for losses on finance receivables on an individual and on a collective basis	'
	(In millions)	June 28,				December 28,
		2014				2013
	Allowance based on collective evaluation	$	36			$	41
	Allowance based on individual evaluation	18				14
	Finance receivables evaluated collectively	$	1,164			$	1,226
	Finance receivables evaluated individually	100				137
Allowance for Losses	'
		Six Months Ended
	(In millions)	June 28,			June 29,
		2014			2013
	Balance at the beginning of period	$	55		$	84
	Provision for losses	6			(16		)
	Charge-offs	(10		)	(8		)
	Recoveries	3			7
	Balance at the end of period	$	54		$	67

Inventories_Tables

Inventories (Tables)	6 Months Ended
	Jun. 28, 2014
Inventories	'
Inventories	'
	(In millions)	June 28,			December 28,
		2014			2013
	Finished goods	$	1,641		$	1,276
	Work in process	2,876			2,477
	Raw materials and components	591			407
		5,108			4,160
	Progress/milestone payments	(1,091		)	(1,197		)
	Total	$	4,017		$	2,963

Accrued_Liabilities_Tables

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 28, 2014
Accrued Liabilities	'
Changes in warranty and product maintenance liability	'
		Six Months Ended
	(In millions)	June 28,			June 29,
		2014			2013
	Accrual at the beginning of period	$	223		$	222
	Provision	151			132
	Settlements	(144		)	(137		)
	Acquisitions	58			—
	Adjustments*	(6		)	—
	Accrual at the end of period	$	282		$	217
	* Adjustments include changes to prior year estimates, new issues on prior year sales and currency translation adjustments.

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss and Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 28, 2014
Accumulated Other Comprehensive Loss and Other Comprehensive Income	'
Schedule of components of Accumulated Other Comprehensive Loss	'
	(In millions)	Foreign			Pension and			Deferred			Accumulated
		Currency			Postretirement Benefits			Gains/Losses			Other
		Translation			Adjustments			on Hedge			Comprehensive Loss
		Adjustments						Contracts
	For the six months ended June 28, 2014
	Beginning balance	$	93		$	(1,110	)	$	-10		$	-1,027
	Other comprehensive income (loss) before reclassifications	(4		)	9			2			7
	Amounts reclassified from Accumulated Other Comprehensive Loss	—			36			5			41
	Other comprehensive income (loss)	(4		)	45			7			48
	Ending balance	$	89		$	(1,065	)	$	-3		$	-979
	For the six months ended June 29, 2013
	Beginning balance	$	81		$	(1,857	)	$	6		$	-1,770
	Other comprehensive loss before reclassifications	(9		)	—			-11			-20
	Amounts reclassified from Accumulated Other Comprehensive Loss	—			63			-2			61
	Other comprehensive income (loss)	(9		)	63			-13			41
	Ending balance	$	72		$	(1,794	)	$	-7		$	-1,729
Schedule of before and after-tax components of Other Comprehensive Income	'
	(In millions)	Pre-Tax			Tax			After-Tax
		Amount			(Expense)			Amount
					Benefit
	For the three months ended June 28, 2014
	Pension and postretirement benefits adjustments:
	Amortization of net actuarial loss*	$	28		$	(10	)	$	18
	Amortization of prior service credit*	(1		)	1			—
	Amendment to postretirement benefit plan	15			(6		)	9
	Pension and postretirement benefits adjustments, net	42			(15		)	27
	Deferred gains/losses on hedge contracts:
	Current deferrals	13			(2		)	11
	Reclassification adjustments	5			(2		)	3
	Deferred gains/losses on hedge contracts, net	18			(4		)	14
	Foreign currency translation adjustments	—			2			2
	Total	$	60		$	(17	)	$	43
	For the three months ended June 29, 2013
	Pension and postretirement benefits adjustments:
	Amortization of net actuarial loss*	$	47		$	(16	)	$	31
	Amortization of prior service cost*	1			(1		)	—
	Pension and postretirement benefits adjustments, net	48			(17		)	31
	Deferred gains/losses on hedge contracts:
	Current deferrals	(8		)	2			(6		)
	Reclassification adjustments	(1		)	1			—
	Deferred gains/losses on hedge contracts, net	(9		)	3			(6		)
	Foreign currency translation adjustments	—			1			1
	Total	$	39		$	(13	)	$	26
	For the six months ended June 28, 2014
	Pension and postretirement benefits adjustments:
	Amortization of net actuarial loss*	$	57		$	(20	)	$	37
	Amortization of prior service credit*	(3		)	2			(1		)
	Amendment to postretirement benefit plan	15			(6		)	9
	Pension and postretirement benefits adjustments, net	69			(24		)	45
	Deferred gains/losses on hedge contracts:
	Current deferrals	2			—			2
	Reclassification adjustments	7			(2		)	5
	Deferred gains/losses on hedge contracts, net	9			(2		)	7
	Foreign currency translation adjustments	(7		)	3			(4		)
	Total	$	71		$	(23	)	$	48
	For the six months ended June 29, 2013
	Pension and postretirement benefits adjustments:
	Amortization of net actuarial loss*	$	95		$	(33	)	$	62
	Amortization of prior service cost*	2			(1		)	1
	Pension and postretirement benefits adjustments, net	97			(34		)	63
	Deferred gains/losses on hedge contracts:
	Current deferrals	(14		)	3			(11		)
	Reclassification adjustments	(3		)	1			(2		)
	Deferred gains/losses on hedge contracts, net	(17		)	4			(13		)
	Foreign currency translation adjustments	(2		)	(7		)	(9		)
	Total	$	78		$	(37	)	$	41
	*These components of other comprehensive income are included in the computation of net periodic pension cost.  See Note 11 of our 2013 Annual Report on Form 10-K for additional information.

Derivative_Instruments_and_Fai1

Derivative Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 28, 2014
Derivative Instruments and Fair Value Measurements	'
Carrying value and estimated fair values of financial instruments	'
		June 28, 2014			December 28, 2013
	(In millions)	Carrying		Estimated Fair	Carrying		Estimated Fair
		Value		Value	Value		Value
	Manufacturing group
	Long-term debt, excluding leases	$  (2,971	)	$  (3,212)	$  (1,854	)	$  (2,027)
	Finance group
	Finance receivables held for investment, excluding leases	1,128		1,201	1,231		1,290
	Debt	(1,213	)	-1,218	(1,256	)	-1,244

Segment_Information_Tables

Segment Information (Tables)	6 Months Ended
	Jun. 28, 2014
Segment Information	'
Reconciliation of segment profit to income from continuing operations before income taxes	'
		Three Months Ended					Six Months Ended
	(In millions)	June 28,		June 29,			June 28,		June 29,
		2014		2013			2014		2013
	REVENUES
	Manufacturing group
	Textron Aviation	$	1,183	$	560		$	1,968	$	1,268
	Bell	1,119		1,025			1,992		1,974
	Textron Systems	282		422			645		851
	Industrial	894		801			1,691		1,528
		3,478		2,808			6,296		5,621
	Finance segment	27		31			56		73
	Total revenues	$	3,505	$	2,839		$	6,352	$	5,694
	SEGMENT PROFIT
	Manufacturing Group
	Textron Aviation	$	28	$	(50	)	$	42	$	(58	)
	Bell	141		135			237		264
	Textron Systems	34		34			73		72
	Industrial	94		79			160		136
		297		198			512		414
	Finance segment	7		15			11		34
	Segment profit	304		213			523		448
	Corporate expenses and other, net	-38		(20		)	-81		(75		)
	Interest expense, net for Manufacturing group	-36		(30		)	-71		(67		)
	Acquisition and restructuring costs	-20		—			-36		—
	Income from continuing operations before income taxes	$	210	$	163		$	335	$	306

Basis_of_Presentation_Details

Basis of Presentation (Details) (Contracts accounted for under percentage of completion method, USD $)	3 Months Ended		6 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Contracts accounted for under percentage of completion method	'	'	'	'
Change in accounting estimate	'	'	'	'
Income from continuing operations before income taxes	$38	$2	$59	$9
Change in Accounting Estimate Financial Effect Increase in Income from Continuing Operations after taxes	24	1	37	6
Income from continuing operations per diluted share	$0.09	$0	$0.13	$0.02
Basis of Presentation	'	'	'	'
Gross favorable program profit adjustments	41	9	65	18
Gross unfavorable program profit adjustments	3	7	6	9
Gross favorable program profit adjustments related to the settlement of ARH program	$16	'	$16	'

Business_Acquisitions_Details

Business Acquisitions (Details) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

0 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

0 Months Ended

0 Months Ended

6 Months Ended

In Millions, except Per Share data, unless otherwise specified

Jun. 28, 2014

Jun. 28, 2014

Jun. 28, 2014

Jun. 29, 2013

Jun. 28, 2014

Jun. 29, 2013

Jun. 28, 2014

Jun. 28, 2014

Mar. 14, 2014

Mar. 29, 2014

Jun. 28, 2014

Jun. 28, 2014

Jan. 03, 2015

Mar. 14, 2014

Mar. 14, 2014

Jun. 28, 2014

Jun. 28, 2014

Jan. 30, 2014

Jan. 24, 2014

Jun. 28, 2014

Pro Forma

Pro Forma

Pro Forma

Pro Forma

2014 Acquisitions

2014 Acquisitions

2014 Beechcraft Acquisition

2014 Beechcraft Acquisition

2014 Beechcraft Acquisition

2014 Beechcraft Acquisition

2014 Beechcraft Acquisition

2014 Beechcraft Acquisition

2014 Beechcraft Acquisition

2014 Beechcraft Acquisition

2014 Beechcraft Acquisition

2014 Beechcraft Acquisition

2014 Beechcraft Acquisition

Other 2014 Acquisitions

Textron Aviation

Textron Aviation

Textron Aviation

Trade names

Unpatented technology and customer relationships

Unpatented technology and customer relationships

Unpatented technology and customer relationships

Senior notes

Term loan

Industrial

Forecast

Minimum

Maximum

Business Acquisitions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Aggregate cash payment

'

'

'

'

'

'

'

'

$1,500

'

'

'

'

'

'

'

'

'

'

$71

Amount of debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

600

500

'

Debt instrument term

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'5 years

'

Preliminary allocation of the purchase price

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Accounts receivable

'

'

'

'

'

'

'

'

116

'

'

'

'

'

'

'

'

'

'

'

Inventories

'

'

'

'

'

'

'

'

770

'

'

'

'

'

'

'

'

'

'

'

Other current assets

'

'

'

'

'

'

'

'

179

'

'

'

'

'

'

'

'

'

'

'

Property, plant and equipment

'

'

'

'

'

'

'

'

260

'

'

'

'

'

'

'

'

'

'

'

Intangible assets

'

'

'

'

'

'

'

'

594

'

'

'

'

208

386

'

'

'

'

'

Goodwill

'

'

'

'

'

'

'

'

208

'

'

'

'

'

'

'

'

'

'

'

Other assets

'

'

'

'

'

'

'

'

185

'

'

'

'

'

'

'

'

'

'

'

Accounts payable

'

'

'

'

'

'

'

'

-143

'

'

'

'

'

'

'

'

'

'

'

Accrued liabilities

'

'

'

'

'

'

'

'

-293

'

'

'

'

'

'

'

'

'

'

'

Other liabilities

'

'

'

'

'

'

'

'

-398

'

'

'

'

'

'

'

'

'

'

'

Total net assets acquired

'

'

'

'

'

'

'

'

1,478

'

'

'

'

'

'

'

'

'

'

'

Estimate lives of intangible assets

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'15 years

'

'

'

'

'

Amortization expense

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

18

32

'

'

'

Tax-deductible goodwill

'

'

'

'

'

'

'

'

260

'

'

'

'

'

'

'

'

'

'

'

Unrecognized Tax Benefits

'

'

'

'

'

'

'

'

90

'

'

'

'

'

'

'

'

'

'

'

Expected cost

'

'

'

'

'

'

'

'

'

'

'

'

35

'

'

'

'

'

'

'

Charges related to restructuring activities

'

'

'

'

'

'

'

'

'

'

20

25

'

'

'

'

'

'

'

'

Transaction costs

'

'

'

'

'

'

'

'

'

11

'

'

'

'

'

'

'

'

'

'

Revenues

'

'

3,513

3,296

6,715

6,599

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revenues

'

'

'

'

'

'

452

558

'

'

'

'

'

'

'

'

'

'

'

'

Income from continuing operations, net of income taxes

'

'

181

102

293

201

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Diluted earnings per share from continuing operations (in dollars per share)

'

'

$0.64

$0.36

$1.04

$0.70

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Transaction and restructuring costs

$20

$36

'

'

'

'

'

'

'

'

$20

$36

'

'

'

'

'

'

'

'

Retirement_Plans_Details

Retirement Plans (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Pension Benefits	'	'	'	'
Net periodic benefit cost	'	'	'	'
Service cost	$27	$34	$54	$67
Interest cost	85	73	164	146
Expected return on plan assets	-117	-105	-228	-210
Amortization of prior service cost (credit)	4	3	8	7
Amortization of net actuarial loss	28	46	56	92
Net periodic benefit cost	27	51	54	102
Postretirement Benefits Other than Pensions	'	'	'	'
Net periodic benefit cost	'	'	'	'
Service cost	1	2	2	4
Interest cost	5	5	10	10
Amortization of prior service cost (credit)	-5	-2	-11	-5
Amortization of net actuarial loss	'	1	1	3
Net periodic benefit cost	$1	$6	$2	$12

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Earnings Per Share	'	'	'	'
Shares repurchased	'	'	4,300,000	'
Value of shares repurchased	'	'	$150	'
Shares required for settlement of accelerated share repurchase agreement	442,000	'	442,000	'
Weighted-average shares outstanding for basic and diluted	'	'	'	'
Basic weighted-average shares outstanding	280,280,000	280,163,000	280,715,000	276,682,000
Dilutive effect of:	'	'	'	'
Stock options and restricted stock units	2,042,000	117,000	2,072,000	227,000
ASR	442,000	'	312,000	'
Convertible notes and warrants	'	3,544,000	'	9,360,000
Diluted weighted-average shares outstanding	282,764,000	283,824,000	283,099,000	286,269,000
Anti-dilutive effect of weighted average shares	2,000,000	6,000,000	2,000,000	6,000,000

Accounts_Receivable_and_Financ2

Accounts Receivable and Finance Receivables (Details) (USD $)	Jun. 28, 2014	Dec. 28, 2013
In Millions, unless otherwise specified
Accounts Receivable	'	'
Unbillable receivables on U.S. Government contracts within accounts receivable	$146	$163
Manufacturing group	'	'
Accounts Receivable	'	'
Accounts Receivable, Gross	1,225	1,001
Allowance for doubtful accounts	-25	-22
Total	1,200	979
Commercial	'	'
Accounts Receivable	'	'
Accounts Receivable, Gross	900	654
U. S. Government Contracts	'	'
Accounts Receivable	'	'
Accounts Receivable, Gross	$325	$347

Accounts_Receivable_and_Financ3

Accounts Receivable and Finance Receivables (Details 2) (USD $)	Jun. 28, 2014	Dec. 28, 2013	Jun. 29, 2013	Dec. 29, 2012
In Millions, unless otherwise specified
Finance Receivables	'	'	'	'
Finance receivables held for investment	$1,384	$1,483	'	'
Allowance for losses	-54	-55	-67	-84
Total finance receivables held for investment, net	1,330	1,428	'	'
Finance receivables held for sale	37	65	'	'
Total finance receivables, net	$1,367	$1,493	'	'

Accounts_Receivable_and_Financ4

Accounts Receivable and Finance Receivables (Details 3) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Dec. 28, 2013
	item
Accounts Receivable and Finance Receivables	'	'
Number of loan categories based on key credit quality indicators for individual loan	3	'
Finance receivables categorized based on the internally assigned credit quality	'	'
Total finance receivables	$1,384	$1,483
Performing	'	'
Finance receivables categorized based on the internally assigned credit quality	'	'
Total finance receivables	1,176	1,285
Watchlist	'	'
Finance receivables categorized based on the internally assigned credit quality	'	'
Total finance receivables	120	93
Nonaccrual	'	'
Finance receivables categorized based on the internally assigned credit quality	'	'
Total finance receivables	$88	$105
Nonaccrual as a percentage of total finance receivables	6.36%	7.08%
Nonaccrual | Minimum	'	'
Finance receivables categorized based on the internally assigned credit quality	'	'
Number of months of contractual delinquency to classify accounts as nonaccrual unless such collection is not doubtful	'3 months	'

Accounts_Receivable_and_Financ5

Accounts Receivable and Finance Receivables (Details 4) (USD $)	Jun. 28, 2014	Dec. 28, 2013
In Millions, unless otherwise specified
Finance receivables held for investment by delinquency aging	'	'
Financing receivable, recorded investment, less than 31 days past due	$1,201	$1,295
Financing receivable, recorded investment, 31 to 60 days past due	87	108
Financing receivable, recorded investment, 61 days to 90 days past due	76	37
Financing receivable, recorded investment, over 90 days past due	20	43
Total finance receivables held for investment	1,384	1,483
Financing receivable accrual status loans, recorded investment, greater than 90 days past due	$0	$5
Contractual delinquency of 60 plus days as percentage of finance receivables	6.94%	5.39%

Accounts_Receivable_and_Financ6

Accounts Receivable and Finance Receivables (Details 5) (USD $)	6 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Dec. 28, 2013
Summary of impaired finance receivables, excluding leveraged leases, at year end and the average recorded investment	'	'
Recorded investment, impaired loans with related allowance for losses	$66	$59
Recorded investment, impaired loans with no related allowance for losses	34	78
Recorded investment, Total	100	137
Unpaid principal balance	104	141
Allowance for losses on impaired loans	18	14
Average recorded investment	$111	$155

Accounts_Receivable_and_Financ7

Accounts Receivable and Finance Receivables (Details 6) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Dec. 28, 2013
Finance receivables	'	'	'
Allowance based on collective evaluation	$36	'	$41
Allowance based on individual evaluation	18	'	14
Finance receivables evaluated collectively	1,164	'	1,226
Finance receivables evaluated individually	100	'	137
Allowance for losses	'	'	'
Balance at the beginning of period	55	84	'
Provision for losses	6	-16	'
Charge-offs	-10	-8	'
Recoveries	3	7	'
Balance at the end of period	$54	$67	'

Inventories_Details

Inventories (Details) (USD $)	Jun. 28, 2014	Dec. 28, 2013
In Millions, unless otherwise specified
Inventories	'	'
Finished goods	$1,641	$1,276
Work in process	2,876	2,477
Raw materials and components	591	407
Inventories, Gross	5,108	4,160
Progress/milestone payments	-1,091	-1,197
Total	$4,017	$2,963

Accrued_Liabilities_Details

Accrued Liabilities (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Changes in warranty and product maintenance contract liability	'	'
Accrual at beginning of year	$223	$222
Provision	151	132
Settlements	-144	-137
Acquisitions	58	'
Adjustments	-6	'
Accrual at end of year	$282	$217
Minimum	'	'
Accrued Liabilities	'	'
Term of limited warranty and maintenance programs	'1 year	'
Maximum	'	'
Accrued Liabilities	'	'
Term of limited warranty and maintenance programs	'5 years	'

Debt_Details

Debt (Details) (USD $)	Jan. 30, 2014	Jan. 30, 2014	Jan. 24, 2014
In Millions, unless otherwise specified	3.65% notes due 2021	4.30% notes due 2024	Term loan
			Beech
Debt	'	'	'
Debt instrument term	'	'	'5 years
Face value of the notes	$250	$350	$500
Interest rate	3.65%	4.30%	'

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss and Other Comprehensive Income (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Components of Accumulated other comprehensive loss	'	'
Balance at the beginning of the period	($1,027)	($1,770)
Other comprehensive income (loss) before reclassifications	7	-20
Amounts reclassified from Accumulated Other Comprehensive Loss	41	61
Other comprehensive income (loss)	48	41
Balance at the end of the period	-979	-1,729
Foreign Currency Translation Adjustments	'	'
Components of Accumulated other comprehensive loss	'	'
Balance at the beginning of the period	93	81
Other comprehensive income (loss) before reclassifications	-4	-9
Other comprehensive income (loss)	-4	-9
Balance at the end of the period	89	72
Pension and Post Retirement Benefits Adjustments	'	'
Components of Accumulated other comprehensive loss	'	'
Balance at the beginning of the period	-1,110	-1,857
Other comprehensive income (loss) before reclassifications	9	'
Amounts reclassified from Accumulated Other Comprehensive Loss	36	63
Other comprehensive income (loss)	45	63
Balance at the end of the period	-1,065	-1,794
Deferred Gains/Losses on Hedge Contracts	'	'
Components of Accumulated other comprehensive loss	'	'
Balance at the beginning of the period	-10	6
Other comprehensive income (loss) before reclassifications	2	-11
Amounts reclassified from Accumulated Other Comprehensive Loss	5	-2
Other comprehensive income (loss)	7	-13
Balance at the end of the period	($3)	($7)

Accumulated_Other_Comprehensiv3

Accumulated Other Comprehensive Loss and Other Comprehensive Income (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Pension and postretirement benefits adjustments, Pre-Tax:	'	'	'	'
Amortization of net actuarial loss included in net periodic pension cost, pre-tax	$28	$47	$57	$95
Amortization of prior service cost (credit) included in net periodic pension cost, pre-tax	-1	1	-3	2
Amendment to postretirement benefit plan, pre-tax	15	'	15	'
Pension and postretirement benefits adjustments, net, Pre-Tax	42	48	69	97
Deferred gains/losses on hedge contracts, pre-tax:	'	'	'	'
Current deferrals, pre-tax	13	-8	2	-14
Reclassification adjustments included in net income, pre-tax	5	-1	7	-3
Deferred gains/losses on hedge contracts, net, pre-tax	18	-9	9	-17
Foreign currency translation adjustments, pre-tax	'	'	-7	-2
Other comprehensive income, pre-tax	60	39	71	78
Pension and postretirement benefits adjustments, tax (Expense) Benefit:	'	'	'	'
Amortization of net actuarial loss included in net periodic pension cost, tax	-10	-16	-20	-33
Amortization of prior service (cost) credit included in net periodic pension cost, tax	1	-1	2	-1
Amendment to postretirement benefit plan, tax	-6	'	-6	'
Pension and postretirement benefits adjustments, net, tax	-15	-17	-24	-34
Deferred gains/losses on hedge contracts, tax:	'	'	'	'
Current deferrals, tax	-2	2	'	3
Reclassification adjustments included in net income, tax	-2	1	-2	1
Deferred gains/losses on hedge contracts, net, tax	-4	3	-2	4
Foreign currency translation adjustments, Tax	2	1	3	-7
Other comprehensive income, Tax	-17	-13	-23	-37
Pension and postretirement benefits adjustments, After Tax:	'	'	'	'
Amortization of net actuarial loss included in net periodic pension cost, after tax	18	31	37	62
Amortization of prior service (cost) credit included in net periodic pension cost, after tax	'	'	-1	1
Amendment to postretirement benefit plan, after tax	9	'	9	'
Pension and postretirement benefits adjustments net, After-Tax	27	31	45	63
Deferred gains/losses on hedge contracts, after tax:	'	'	'	'
Current deferrals, after tax	11	-6	2	-11
Reclassification adjustments included in net income, after tax	3	'	5	-2
Deferred gains/losses on hedge contracts, net, after tax	14	-6	7	-13
Foreign currency translation adjustments, after Tax	2	1	-4	-9
Other comprehensive income	$43	$26	$48	$41

Derivative_Instruments_and_Fai2

Derivative Instruments and Fair Value Measurements (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 28, 2014	Dec. 28, 2013	Jun. 28, 2014	Jun. 28, 2014	Dec. 28, 2013	Jun. 28, 2014	Dec. 28, 2013
	Manufacturing group	Interest rate exchange contracts	Interest rate exchange contracts	Foreign currency exchange contracts	Foreign currency exchange contracts	Foreign currency exchange contracts	Level 2	Level 2
		Finance group	Finance group		Manufacturing group	Manufacturing group	Foreign currency exchange contracts	Foreign currency exchange contracts
							Manufacturing group	Manufacturing group
Fair value of derivative instruments	'	'	'	'	'	'	'	'
Notional amounts	'	$179	$229	'	$737	$636	'	'
Derivative Asset, Fair Value	'	2	2	'	'	'	2	2
Derivative Liability, Fair Value	'	4	5	'	'	'	3	15
Forward exchange contracts maximum maturity period	'3 years	'	'	'	'	'	'	'
Net deferred gain / loss in Accumulated OCI	'	'	'	($3)	'	'	'	'

Derivative_Instruments_and_Fai3

Derivative Instruments and Fair Value Measurements (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013	Dec. 28, 2013
Manufacturing group | Carrying Value	'	'	'	'	'
Carrying value of financial instruments not recorded at fair value	'	'	'	'	'
Long-term debt, excluding leases	($2,971)	'	($2,971)	'	($1,854)
Manufacturing group | Estimated Fair Value	'	'	'	'	'
Carrying value of financial instruments not recorded at fair value	'	'	'	'	'
Long-term debt, excluding leases	-3,212	'	-3,212	'	-2,027
Finance group	'	'	'	'	'
Assets measured at fair value on a nonrecurring basis	'	'	'	'	'
Portion of fair value of term debt determined based on observable market transactions (as a percent)	31.00%	'	31.00%	'	30.00%
Carrying value of financial instruments not recorded at fair value	'	'	'	'	'
Debt	-1,213	'	-1,213	'	-1,256
Finance group | Carrying Value	'	'	'	'	'
Carrying value of financial instruments not recorded at fair value	'	'	'	'	'
Finance receivables held for investment, excluding leases	1,128	'	1,128	'	1,231
Debt	-1,213	'	-1,213	'	-1,256
Finance group | Estimated Fair Value	'	'	'	'	'
Carrying value of financial instruments not recorded at fair value	'	'	'	'	'
Finance receivables held for investment, excluding leases	1,201	'	1,201	'	1,290
Debt	-1,218	'	-1,218	'	-1,244
Fair Value, Measurements, Nonrecurring | Finance group | Unobservable Inputs (Level 3)	'	'	'	'	'
Assets measured at fair value on a nonrecurring basis	'	'	'	'	'
Impaired finance receivables, Balance	48	'	48	'	45
Impaired finance receivables, Gain (Loss)	$6	$2	$11	$5	'

Income_Tax_Expense_Details

Income Tax Expense (Details)	3 Months Ended		6 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Income Tax Expense	'	'	'	'
Effective income tax rate (as a percent)	31.00%	30.10%	30.70%	25.20%
U.S. federal statutory income tax rate (as a percent)	35.00%	35.00%	35.00%	35.00%
Effective income tax rate having favorable impact resulting from the retroactive reinstatement and extension of the Federal Research and Development Tax Credit (as a percent)	'	'	'	5.00%

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
			item
Operating and reportable business segments	'	'	'	'
Number of business operating segments	'	'	5	'
Number of reportable business segments	'	'	5	'
REVENUES	'	'	'	'
Manufacturing revenues	$3,478	$2,808	$6,296	$5,621
Finance revenues	27	31	56	73
Total revenues	3,505	2,839	6,352	5,694
SEGMENT PROFIT	'	'	'	'
Segment profit	304	213	523	448
Corporate expenses and other, net	-38	-20	-81	-75
Interest Expense, net for Manufacturing group	-36	-30	-71	-67
Acquisition and restructuring costs	-20	'	-36	'
Income from continuing operations before income taxes	210	163	335	306
Manufacturing group	'	'	'	'
REVENUES	'	'	'	'
Manufacturing revenues	3,478	2,808	6,296	5,621
SEGMENT PROFIT	'	'	'	'
Segment profit	297	198	512	414
Textron Aviation | Manufacturing group	'	'	'	'
REVENUES	'	'	'	'
Manufacturing revenues	1,183	560	1,968	1,268
SEGMENT PROFIT	'	'	'	'
Segment profit	28	-50	42	-58
Bell | Manufacturing group	'	'	'	'
REVENUES	'	'	'	'
Manufacturing revenues	1,119	1,025	1,992	1,974
SEGMENT PROFIT	'	'	'	'
Segment profit	141	135	237	264
Textron Systems | Manufacturing group	'	'	'	'
REVENUES	'	'	'	'
Manufacturing revenues	282	422	645	851
SEGMENT PROFIT	'	'	'	'
Segment profit	34	34	73	72
Industrial | Manufacturing group	'	'	'	'
REVENUES	'	'	'	'
Manufacturing revenues	894	801	1,691	1,528
SEGMENT PROFIT	'	'	'	'
Segment profit	94	79	160	136
Finance segment	'	'	'	'
REVENUES	'	'	'	'
Finance revenues	27	31	56	73
SEGMENT PROFIT	'	'	'	'
Segment profit	$7	$15	$11	$34