Textron Reports First Quarter 2018 Income from Continuing Operations of $0.72 per Share; Signs Agreement to Sell Tools & Test Business for $810 Million

(a) Special charges for the three months ended April 1, 2017 include $22 million of restructuring and transaction costs related to the Arctic Cat acquisition and $15 million related to a 2016 restructuring plan.

(b) Adjusted income from continuing operations and adjusted diluted earnings per share are non-GAAP financial measures as defined in "Non-GAAP Financial Measures" attached to this release.

Textron Inc.
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
         
       

March 31, 2018

   

December 30, 2017

Assets
Cash and equivalents $ 688 $ 1,079
Accounts receivable, net 1,110 1,363
Inventories 4,090 4,150
Other current assets 933 435
Net property, plant and equipment 2,711 2,721
Goodwill 2,368 2,364
Other assets 1,953 2,059
Finance group assets   1,115       1,169
Total Assets $ 14,968     $ 15,340
 
 
Liabilities and Shareholders' Equity
Short-term debt and current portion of long-term debt $ 16 $ 14
Current liabilities 3,333 3,646
Other liabilities 1,908 2,006
Long-term debt 3,083 3,074
Finance group liabilities   936       953
Total Liabilities 9,276 9,693
 
Total Shareholders' Equity   5,692       5,647
Total Liabilities and Shareholders' Equity $ 14,968     $ 15,340
 

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