E-Z-GO 2015 Annual Report Download

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2015 ANNUAL REPORT

Table of contents

  • Page 1
    2015 ANNUAL REPORT

  • Page 2
    Textron's Diverse Product Portfolio Textron is known around the world for its powerful brands of aircraft, defense and industrial products that provide customers with groundbreaking technologies, innovative solutions and first-class service. TEXTRON AVIATION BELL HELICOPTER INDUSTRIAL TEXTRON ...

  • Page 3
    ... the globe. Selected Year-Over-Year Financial Data (Dollars in Millions, Except Per Share Amounts) 2015 $13,423 1,255 698 2014 $13,878 1,214 605 Total Revenues Total Segment Profit Income ...Measure. See page immediately preceding Form 10-K for Reconciliation to GAAP. TEXTRON 2015 ANNUAL REPORT 1

  • Page 4
    ...the first-ever commercial fly-by-wire helicopter- was a major milestone for the business in 2015. On the military side, Bell Helicopter secured several notable contracts, both domestically and internationally, for...: the Bell 505 Jet Ranger X short light single 2 TEXTRON 2015 ANNUAL REPORT

  • Page 5
    ... Milestones Moving with great speed, we brought a number of new products to market in 2015 so our customers can accomplish great things-in the air, on the ground and on the ... launched its AirScout for technicians to more easily survey a home or business for Wi-Fi TEXTRON 2015 ANNUAL REPORT 3

  • Page 6
    ... at Paris-Le Bourget Airport. On course for profitable growth Our solid financial results in 2015 were based on following through on our strategy: developing new products, expanding our markets, ...we already have a Scott C. Donnelly Chairman and Chief Executive Officer 4 TEXTRON 2015 ANNUAL REPORT

  • Page 7
    ... Helicopter Douglas R. Wilburne Vice President - Investor Relations Textron Inc. Ian K. Walsh President and CEO TRU Simulation + Training Inc. David Withers President and CEO Jacobsen TEXTRON 2015 ANNUAL REPORT 5

  • Page 8
    ... to fund operations and obligations. This measure may not be comparable with similarly titled measures reported by other companies, as there is no definitive accounting standard on how the measure should ... Manufacturing Cash Flow Before Pension Contributions-Non-GAAP 6 TEXTRON 2015 ANNUAL REPORT

  • Page 9
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K  >[@ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 2, 2016 RU >@ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

  • Page 10
    Textron Inc. Index to Annual Report on Form 10-K For the Fiscal Year Ended January 2, 2016 PART I ,WHP ,WHP$ ,WHP% ,WHP ,WHP ,WHP PART II ,WHP ,WHP ,WHP ,WHP$ ,WHP ,WHP ,...

  • Page 11
    ...¶VSULQFLSDOOLQHVRIEXVLQHVVZHUHDVIROORZV (In millions) $LUFUDIWVDOHV $IWHUPDUNHW 7RWDOUHYHQXHV      2015      2014      2013 7KH IDPLO\ RI MHWV FXUUHQWO\ SURGXFHG E\ 7H[WURQ $YLDWLRQ LQFOXGHV WKH 0XVWDQJ...

  • Page 12
    ...RIEXVLQHVVZHUHDVIROORZV 0LOLWDU\ 93URJUDP  2WKHU0LOLWDU\ &RPPHUFLDO 7RWDOUHYHQXHV (In millions) 2015 2014 2013                   %HOO VXSSOLHV DGYDQFHG PLOLWDU\ KHOLFRSWHUV DQG VXSSRUW WR WKH...

  • Page 13
    ... 6SHFLDOL]HG9HKLFOHVDQG(TXLSPHQW 7RROVDQG7HVW(TXLSPHQW 7RWDOUHYHQXHV (In millions)       2015       2014       2013 Fuel Systems and Functional Components 2XU )XHO 6\VWHPV DQG )XQFWLRQDO &RPSRQHQWV...

  • Page 14
    EHVW NQRZQ IRU LWV HOHFWULFYHKLFOH WHFKQRORJ\ LW DOVR PDQXIDFWXUHV DQG VHOOV PRGHOV SRZHUHG E\ LQWHUQDO FRPEXVWLRQ HQJLQHV 7H[WURQ 6SHFLDOL]HG 9HKLFOHV¶ GLYHUVLILHG FXVWRPHU EDVH LQFOXGHV JROI FRXUVHV DQG UHVRUWV JRYHUQPHQW DJHQFLHV DQG PXQLFLSDOLWLHV FRQVXPHUV...

  • Page 15
    Backlog  2XUEDFNORJDWWKHHQGRIDQGLVVXPPDUL]HGEHORZ January 2, 2016 January 3, 2015 %HOO 7H[WURQ6\VWHPV 7H[WURQ$YLDWLRQ 7RWDOEDFNORJ (In millions)             $SSUR[LPDWHO\RIRXUWRWDOEDFNORJDW-DQXDU...

  • Page 16
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  • Page 17
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  • Page 18
    Item 1A. Risk Factors 2XUEXVLQHVVILQDQFLDOFRQGLWLRQDQGUHVXOWVRIRSHUDWLRQVDUHVXEMHFWWRYDULRXVULVNVLQFOXGLQJWKRVHGLVFXVVHGEHORZZKLFKPD\ DIIHFW WKH YDOXH RI RXU VHFXULWLHV 7KH ULVNV GLVFXVVHG EHORZ DUH WKRVH WKDW ZH EHOLHYH FXUUHQWO\ DUH WKH PRVW VLJQLILFDQW ...

  • Page 19
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  • Page 20
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  • Page 21
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  • Page 22
    We are subject to legal proceedings and other claims. :HDUHVXEMHFWWROHJDOSURFHHGLQJVDQGRWKHUFODLPVDULVLQJRXWRIWKHFRQGXFWRIRXUEXVLQHVVLQFOXGLQJSURFHHGLQJVDQGFODLPV UHODWLQJ WR FRPPHUFLDO DQG ILQDQFLDO WUDQVDFWLRQV JRYHUQPHQW FRQWUDFWV DOOHJHG ODFN RI FRPSOLDQFH ...

  • Page 23
    GHULYDWLYHVRUHQWHULQWRFRQWUDFWVWRLQVXODWHRXUUHVXOWVRIRSHUDWLRQVIURPWKHVHIOXFWXDWLRQV1HYHUWKHOHVVFKDQJHVLQFXUUHQF\ H[FKDQJHUDWHVUDZPDWHULDOSULFHVDQGLQWHUHVWUDWHVFDQKDYHVXEVWDQWLDODGYHUVHHIIHFWVRQRXUUHVXOWVRIRSHUDWLRQV We may be unable to effectively mitigate ...

  • Page 24
    ... Textron common stock. The high and low sales prices per share of our common stock as reported on the New York Stock Exchange and the dividends paid per share are provided in the following table: 2015 High Low Dividends per Share High 2014 Low Dividends per Share First quarter Second quarter Third...

  • Page 25
    ...FDSLWDO Investment data &DSLWDOH[SHQGLWXUHV 'HSUHFLDWLRQ (a) Segment profit includes amortization of $12 million and $63 million in 2015 and 2014, respectively, related to fair value step-up adjustments of Beechcraft acquired inventories sold during the...

  • Page 26
    ...LQWKH6HJPHQW$QDO\VLVVHFWLRQRQSDJHVWR Revenues % Change (Dollars in millions) 5HYHQXHV   2015      2014 2013 2015   2014  5HYHQXHVGHFUHDVHGPLOOLRQLQFRPSDUHGZLWKDVGHFUHDVHVLQWKH%HOODQG7H[WURQ6\VWHPV...

  • Page 27
    ...UHVWUXFWXULQJFRVWV OLQHRQWKH&RQVROLGDWHG6WDWHPHQWVRI2SHUDWLRQV Interest Expense % Change 2015 2014 (Dollars in millions) ,QWHUHVWH[SHQVH  2015    2014    2013      ,QWHUHVWH[SHQVHRQWKH&RQVROLGDWHG6WDWHPHQWVRI2SHUDWLRQVLQFOXGHVLQWHUHVW...

  • Page 28
    ... Revenues and Operating Expenses )DFWRUVFRQWULEXWLQJWRWKH\HDURYHU\HDUUHYHQXHFKDQJHDUHSURYLGHGEHORZ (In millions) 2015 versus 2014 $FTXLVLWLRQV 9ROXPHDQGPL[ 7RWDOFKDQJH      7H[WURQ$YLDWLRQ¶VUHYHQXHVLQFUHDVHGPLOOLRQLQFRPSDUHGZLWK...

  • Page 29
    ... Textron Aviation Segment Profit (Loss) )DFWRUVFRQWULEXWLQJWR\HDURYHU\HDUVHJPHQWSURILWFKDQJHDUHSURYLGHGEHORZ (In millions) 2015 versus 2014 3HUIRUPDQFHDQGRWKHU 9ROXPHDQGPL[ 7RWDOFKDQJH      6HJPHQWSURILWDW7H[WURQ$YLDWLRQLQFUHDVHG PLOOLRQ...

  • Page 30
    ...RYHUQPHQW Bell Revenues and Operating Expenses )DFWRUVFRQWULEXWLQJWRWKH\HDURYHU\HDUUHYHQXHFKDQJHDUHSURYLGHGEHORZ (In millions) 2015 versus 2014 9ROXPHDQGPL[ 2WKHU 7RWDOFKDQJH %HOO¶VUHYHQXHVGHFUHDVHGPLOOLRQLQFRPSDUHGZLWKSULPDULO\GXHWRWKH...

  • Page 31
    ... Bell Segment Profit )DFWRUVFRQWULEXWLQJWR\HDURYHU\HDUVHJPHQWSURILWFKDQJHDUHSURYLGHGEHORZ (In millions) 2015 versus 2014 9ROXPHDQGPL[ 3HUIRUPDQFHDQGRWKHU 7RWDOFKDQJH        %HOO¶V VHJPHQW SURILW GHFUHDVHG  PLOOLRQ  LQ  FRPSDUHG...

  • Page 32
    ...Textron Systems Segment Profit )DFWRUVFRQWULEXWLQJWR\HDURYHU\HDUVHJPHQWSURILWFKDQJHDUHSURYLGHGEHORZ (In millions) 2015 versus 2014 9ROXPHDQGPL[ 3HUIRUPDQFH 2WKHU 7RWDOFKDQJH   7H[WURQ 6\VWHPV¶ VHJPHQW SURILW GHFUHDVHG  PLOOLRQ  LQ  FRPSDUHG...

  • Page 33
    ... and Operating Expenses )DFWRUVFRQWULEXWLQJWRWKH\HDURYHU\HDUUHYHQXHFKDQJHDUHSURYLGHGEHORZ (In millions) 2015 versus 2014 9ROXPH )RUHLJQH[FKDQJH $FTXLVLWLRQV 2WKHU 7RWDOFKDQJH          ,QGXVWULDOVHJPHQWUHYHQXHVLQFUHDVHGPLOOLRQLQ...

  • Page 34
    ...RYHU\HDUVHJPHQWSURILWFKDQJHDUHSURYLGHGEHORZ (In millions) 2015 versus 2014 9ROXPH 3HUIRUPDQFH )RUHLJQH[FKDQJH 2WKHU 7RWDOFKDQJH...&RPSRQHQWVSURGXFWOLQH Finance (In millions) 5HYHQXHV 6HJPHQWSURILW  2015    2014    2013   Finance Revenues )...

  • Page 35
    ... (Dollars in millions) January 2, 2016 January 3, 2015 )LQDQFHUHFHLYDEOHV  1RQDFFUXDOILQDQFHUHFHLYDEOHV 5DWLRRI...\LVVXPPDUL]HGEHORZ (Dollars in millions) January 2, 2016 January 3, 2015 Manufacturing group &DVKDQGHTXLYDOHQWV 'HEW 6KDUHKROGHUV¶HTXLW\ &DSLWDO GHEWSOXV...

  • Page 36
    ...FDVKIORZVIURPFRQWLQXLQJRSHUDWLRQVIRUWKH)LQDQFHJURXSDUHVXPPDUL]HGEHORZ (In millions) 2015 2014 2013 2SHUDWLQJDFWLYLWLHV ,QYHVWLQJDFWLYLWLHV )LQDQFLQJDFWLYLWLHV              ,QDQGWKH)LQDQFHJURXS¶VFDVKIORZVIURP...

  • Page 37
    ...DIWHU HOLPLQDWLRQ RI DFWLYLW\ EHWZHHQ WKH ERUURZLQJ JURXSV DUH VXPPDUL]HGEHORZ (In millions) 2015 2014 2013 2SHUDWLQJDFWLYLWLHV ,QYHVWLQJDFWLYLWLHV )LQDQFLQJDFWLYLWLHV                 &DVK IORZV SURYLGHG E\ RSHUDWLQJ...

  • Page 38
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  • Page 39
    Purchase Obligations 3XUFKDVHREOLJDWLRQVLQFOXGHXQGLVFRXQWHGDPRXQWVFRPPLWWHGXQGHUOHJDOO\HQIRUFHDEOHFRQWUDFWVRUSXUFKDVHRUGHUVIRUJRRGV DQG VHUYLFHV ZLWK GHILQHG WHUPV DV WR SULFH TXDQWLW\ DQG GHOLYHU\ GDWHV $SSUR[LPDWHO\  RI WKH SXUFKDVH REOLJDWLRQV ZH GLVFORVH...

  • Page 40
    ...DGMXVWPHQWVWKDWDUHLQFOXGHGZLWKLQVHJPHQWSURILW IRUWKHWKUHH\HDUVHQGHG-DQXDU\ (In millions) 2015 2014 2013 *URVVIDYRUDEOH *URVVXQIDYRUDEOH 1HWDGMXVWPHQWV                 Goodwill :HHYDOXDWHWKHUHFRYHUDELOLW\RIJRRGZLOO...

  • Page 41
    7RGHWHUPLQHWKHZHLJKWHGDYHUDJHH[SHFWHGORQJWHUPUDWHRIUHWXUQRQSODQDVVHWVZHFRQVLGHUWKHFXUUHQWDQGH[SHFWHGDVVHW DOORFDWLRQDVZHOODVKLVWRULFDODQGH[SHFWHGUHWXUQVRQHDFKSODQDVVHWFODVV$ORZHUH[SHFWHGUDWHRIUHWXUQRQSODQDVVHWVZLOO LQFUHDVH SHQVLRQ H[SHQVH  )RU ...

  • Page 42
    ... WR WKH K\SRWKHWLFDO FKDQJHV GLVFXVVHG DERYH  7KLV VHQVLWLYLW\ DQDO\VLV LV PRVW OLNHO\ QRW LQGLFDWLYH RI DFWXDOUHVXOWVLQWKHIXWXUH 2015 Sensitivity of Fair Value to a 10% Change 2014 Sensitivity of Fair Value to a 10% Change In millions  Carrying Value* Fair Value...

  • Page 43
    Item 8. Financial Statements and Supplementary Data 2XU&RQVROLGDWHG)LQDQFLDO6WDWHPHQWVDQGWKHUHODWHGUHSRUWRIRXULQGHSHQGHQWUHJLVWHUHGSXEOLFDFFRXQWLQJILUPWKHUHRQDUHLQFOXGHGLQWKLV $QQXDO5HSRUWRQ)RUP.RQWKHSDJHVLQGLFDWHGEHORZ Page &RQVROLGDWHG6WDWHPHQWVRI2SHUDWLRQVIRU...

  • Page 44
    ... Statements of Operations )RUHDFKRIWKH\HDUVLQWKHWKUHH\HDUSHULRGHQGHG-DQXDU\ (In millions, except per share data) 2015 2014 2013 Revenues 0DQXIDFWXULQJUHYHQXHV )LQDQFHUHYHQXHV 7RWDOUHYHQXHV Costs and expenses &RVWRIVDOHV 6HOOLQJDQGDGPLQLVWUDWLYHH[SHQVH ,QWHUHVW...

  • Page 45
    ...\WUDQVODWLRQDGMXVWPHQWV 'HIHUUHGORVVHVRQKHGJHFRQWUDFWVQHWRIUHFODVVLILFDWLRQV 2WKHUFRPSUHKHQVLYHLQFRPH ORVV  Comprehensive income See Notes to the Consolidated Financial Statements.  2015   2014   2013    7(;7521$118$/5(3257 

  • Page 46
    Consolidated Balance Sheets (In millions, except share data) January 2, 2016 January 3, 2015 Assets Manufacturing group &DVKDQGHTXLYDOHQWV $FFRXQWVUHFHLYDEOHQHW ,QYHQWRULHV 2WKHUFXUUHQWDVVHWV Total current assets 3URSHUW\SODQWDQGHTXLSPHQWQHW *RRGZLOO 2WKHUDVVHWV Total ...

  • Page 47
    Consolidated Statements of Shareholders' Equity Accumulated Other Retained Comprehensive Earnings Loss Total Shareholders' Equity %DODQFHDW'HFHPEHU 1HWLQFRPH 2WKHUFRPSUHKHQVLYHLQFRPH 'LYLGHQGVGHFODUHG SHUVKDUH  6KDUHEDVHGFRPSHQVDWLRQDFWLYLW\ 3XUFKDVHVFRQYHUVLRQVRI...

  • Page 48
    Consolidated Statements of Cash Flows For each of the years in the three-year period ended January 2, 2016 Consolidated (In millions) 2015 2014 2013 Cash flows from operating activities Net income Less: Loss from discontinued operations Income from continuing operations Adjustments to reconcile ...

  • Page 49
    ... of Cash Flows continued For each of the years in the three-year period ended January 2, 2016 Manufacturing Group (In millions) 2015 2014 2013 2015 Finance Group 2014 2013 Cash flows from operating activities Net income Less: Loss from discontinued operations Income from continuing operations...

  • Page 50
    Notes to the Consolidated Financial Statements Note 1. Summary of Significant Accounting Policies Principles of Consolidation and Financial Statement Presentation 2XU&RQVROLGDWHG)LQDQFLDO6WDWHPHQWVLQFOXGHWKHDFFRXQWVRI7H[WURQ,QFDQGLWVPDMRULW\RZQHGVXEVLGLDULHV2XUILQDQFLQJV DUH ...

  • Page 51
    'HYHORSPHQW DQG 'HPRQVWUDWLRQ SKDVH RI WKH $UPHG 5HFRQQDLVVDQFH +HOLFRSWHU $5+  SURJUDP ZKLFK ZDV WHUPLQDWHG LQ 2FWREHU Revenue Recognition :HJHQHUDOO\UHFRJQL]HUHYHQXHIRUWKHVDOHRISURGXFWVZKLFKDUHQRWXQGHUORQJWHUPFRQWUDFWVXSRQGHOLYHU\)RUFRPPHUFLDO ...

  • Page 52
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  • Page 53
    :H DOVR HVWDEOLVK DQ DOORZDQFH IRU ORVVHV WR FRYHU SUREDEOH EXW VSHFLILFDOO\ XQNQRZQ ORVVHV H[LVWLQJ LQ WKH SRUWIROLR  7KLV DOORZDQFHLVHVWDEOLVKHGDVDSHUFHQWDJHRIQRQUHFRXUVHILQDQFHUHFHLYDEOHVZKLFKKDYHQRWEHHQLGHQWLILHGDVUHTXLULQJVSHFLILF UHVHUYHV7KH...

  • Page 54
    ...DQGUHODWHGGLVFORVXUHVDORQJZLWKWKHLPSOHPHQWDWLRQDSSURDFKWREHXVHG Note 2. Business Acquisitions, Goodwill and Intangible Assets 2015 Acquisitions 'XULQJ  ZH PDGH DJJUHJDWH FDVK SD\PHQWV IRU DFTXLVLWLRQV RI  PLOOLRQ ZKLFK LQFOXGHG WKUHH EXVLQHVVHV ZLWKLQ RXU...

  • Page 55
    7KHFRQVLGHUDWLRQSDLGIRUWKLVEXVLQHVVZDVDOORFDWHGWRWKHDVVHWVDFTXLUHGDQGOLDELOLWLHVDVVXPHGEDVHGRQWKHLUHVWLPDWHGIDLU YDOXHVDWWKHDFTXLVLWLRQGDWHDVSUHVHQWHGEHORZ $FFRXQWVUHFHLYDEOH ,QYHQWRULHV 2WKHUFXUUHQWDVVHWV 3URSHUW\SODQWDQGHTXLSPHQW ,QWDQJLEOHDVVHWV *RRGZLOO...

  • Page 56
    ... January 2, 2016 Weighted-Average Amortization Period (in years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount January 3, 2015 Accumulated Amortization (Dollars in millions) 3DWHQWVDQGWHFKQRORJ\ &XVWRPHUUHODWLRQVKLSVDQG FRQWUDFWXDODJUHHPHQWV 7UDGHQDPHVDQG...

  • Page 57
    ...WKH FUHGLW TXDOLW\ LQGLFDWRUV DQG E\ GHOLQTXHQF\ DJLQJ FDWHJRU\ DUH VXPPDUL]HG DV IROORZV (In millions) January 2, 2016 January 3, 2015 3HUIRUPLQJ :DWFKOLVW 1RQDFFUXDO 1RQDFFUXDODVDSHUFHQWDJHRIILQDQFHUHFHLYDEOHV /HVVWKDQGD\VSDVWGXH GD\VSDVWGXH GD\VSDVW...

  • Page 58
    ... OHDVHV DW -DQXDU\   DQG -DQXDU\   UHVSHFWLYHO\ LQ DFFRUGDQFH ZLWK86JHQHUDOO\DFFHSWHGDFFRXQWLQJSULQFLSOHV (In millions) January 2, 2016 January 3, 2015 %DODQFHDWWKHEHJLQQLQJRI\HDU 3URYLVLRQIRUORVVHV &KDUJHRIIV 5HFRYHULHV %DODQFHDWWKHHQGRI\HDU...

  • Page 59
    ...millions) Useful Lives (in years) January 2, 2016 January 3, 2015 /DQGDQGEXLOGLQJV 0DFKLQHU\DQGHTXLSPHQW $FFXPXODWHGGHSUHFLDWLRQDQGDPRUWL...JURXSDUHVXPPDUL]HGEHORZ (In millions) January 2, 2016 January 3, 2015 &XVWRPHUGHSRVLWV 6DODULHVZDJHVDQGHPSOR\HUWD[HV &XUUHQWSRUWLRQRI...

  • Page 60
    ...WKHWDEOHEHORZ (In millions) January 2, 2016 January 3, 2015 Manufacturing group GXH GXH 9DULDEOHUDWHQRWHGXH DQGUHVSHFWLYHO\ ...LQDQFHJURXSGHEW (a) (b) Notes amortize on a quarterly or semi-annual basis. Notes are secured by finance receivables as described in Note 3....

  • Page 61
    Note 8. Derivative Instruments and Fair Value Measurements :HPHDVXUHIDLUYDOXHDWWKHSULFHWKDWZRXOGEHUHFHLYHGWRVHOODQDVVHWRUSDLGWRWUDQVIHUDOLDELOLW\LQDQRUGHUO\WUDQVDFWLRQ EHWZHHQPDUNHWSDUWLFLSDQWVDWWKHPHDVXUHPHQWGDWH:HSULRULWL]HWKHDVVXPSWLRQVWKDWPDUNHW...

  • Page 62
    ... QRW UHIOHFWHG LQ WKH ILQDQFLDO VWDWHPHQWV DW IDLU YDOXHDUHDVIROORZV January 2, 2016 Carrying Estimated Value Fair Value January 3, 2015 Carrying Estimated Value Fair Value (In millions) Manufacturing group /RQJWHUPGHEWH[FOXGLQJOHDVHV Finance group )LQDQFHUHFHLYDEOHVH[FOXGLQJ...

  • Page 63
    ...DQXDU\     Other Comprehensive Income (Loss) 7KHEHIRUHDQGDIWHUWD[FRPSRQHQWVRIRWKHUFRPSUHKHQVLYHLQFRPH ORVV DUHSUHVHQWHGEHORZ 2015 Pre-Tax Amount Tax (Expense) After-Tax Benefit Amount Pre-Tax Amount 2014 Tax (Expense) After-Tax Amount Benefit 2013...

  • Page 64
    ...SHQVH ,QFRPHWD[EHQHILW 7RWDOQHWFRPSHQVDWLRQH[SHQVHLQFOXGHGLQQHWLQFRPH (In millions)   2015       2014      2013    &RPSHQVDWLRQH[SHQVHLQFOXGHGDSSUR[LPDWHO\PLOOLRQPLOOLRQDQGPLOOLRQLQDQGUHVSHFWLYHO...

  • Page 65
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    ...a copy of Textron's Forms 10-K and 10-Q, Proxy Statement or Annual Report without charge, visit our website at www.textron.com or send a...BOARD OF DIRECTORS To contact the Textron Board of Directors or to report concerns or complaints about accounting, internal accounting controls or auditing matters,...

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