TXT 10-K Annual Report Jan. 4, 2020 | Alphaminr
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TXT 10-K Fiscal year ended Jan. 4, 2020

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TEXTRON INC
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TABLE OF CONTENTS
Part IItem 1. BusinessItem 1A. Risk FactorsItem 1B. Unresolved Staff CommentsItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Mine Safety DisclosuresPart IIItem 5. Market For Registrant S Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity SecuritiesItem 6. Selected Financial DataItem 7. Management S Discussion and Analysis Of Financial Condition and Results Of OperationsItem 7A. Quantitative and Qualitative Disclosures About Market RiskItem 8. Financial Statements and Supplementary DataNote 1. Summary Of Significant Accounting PoliciesNote 2. Business Disposition and AcquisitionNote 3. Goodwill and Intangible AssetsNote 4. Accounts Receivable and Finance ReceivablesNote 5. InventoriesNote 6. Property, Plant and Equipment, NetNote 7. Other AssetsNote 8. Other Current LiabilitiesNote 9. LeasesNote 10. Debt and Credit FacilitiesNote 11. Derivative Instruments and Fair Value MeasurementsNote 12. Shareholders EquityNote 13. Segment and Geographic DataNote 14. RevenuesNote 15. Share-based CompensationNote 16. Retirement PlansNote 17. Special ChargesNote 18. Income TaxesNote 19. Commitments and ContingenciesNote 20. Supplemental Cash Flow InformationItem 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A. Controls and ProceduresPart IIIItem 10. Directors, Executive Officers and Corporate GovernanceItem 11. Executive CompensationItem 12. Security Ownership Of Certain Beneficial Owners and Management and Related Stockholder MattersItem 13. Certain Relationships and Related Transactions and Director IndependenceItem 14. Principal Accountant Fees and ServicesPart IVItem 15. Exhibits and Financial Statement SchedulesItem 16. Form 10-k Summary

Exhibits

3.1A Restated Certificate of Incorporation of Textron as filed with the Secretary of State of Delaware on April 29, 2010. Incorporated by reference to Exhibit 3.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended April 3, 2010. (SEC File No. 1-5480) 3.1B Certificate of Amendment of Restated Certificate of Incorporation of Textron Inc., filed with the Secretary of State of Delaware on April 27, 2011. Incorporated by reference to Exhibit 3.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended April 2, 2011. (SEC File No. 1-5480) 3.2 Amended and Restated By-Laws of Textron Inc., effective April 28, 2010 and further amended April 27, 2011, July 23, 2013, February 25, 2015 and December 6, 2016. Incorporated by reference to Exhibit 3.2 to Textrons Current Report on Form 8-K filed on December 8, 2016. 4.1A Support Agreement dated as of May 25, 1994, between Textron Inc. and Textron Financial Corporation. Incorporated by reference to Exhibit 4.1 to Textrons Annual Report on Form 10-K for the fiscal year ended December 31, 2011. (SEC File No. 1-5480) 4.1B Amendment to Support Agreement, dated as of December 23, 2015, by and between Textron Inc. and Textron Financial Corporation. Incorporated by reference to Exhibit 4.1B to Textrons Annual Report on Form 10-K for the fiscal year ended January 2, 2016. 4.6 Description of registrants securities. 10.1A Textron Inc. 2007 Long-Term Incentive Plan (Amended and Restated as of April 28, 2010). Incorporated by reference to Exhibit 10.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2012. (SEC File No. 1-5480) 10.1B Form of Non-Qualified Stock Option Agreement. Incorporated by reference to Exhibit 10.2 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2007. (SEC File No. 1-5480) 10.1C Form of Incentive Stock Option Agreement. Incorporated by reference to Exhibit 10.3 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2007. (SEC File No. 1-5480) 10.1D Form of Restricted Stock Unit Grant Agreement. Incorporated by reference to Exhibit 10.4 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2007. (SEC File No. 1-5480) 10.1E Form of Restricted Stock Unit Grant Agreement with Dividend Equivalents. Incorporated by reference to Exhibit 10.2 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended March 29, 2008. (SEC File No. 1-5480) 10.1F Form of Performance Share Unit Grant Agreement. Incorporated by reference to Exhibit 10.1H to Textrons Annual Report on Form 10-K for the fiscal year ended January 3, 2009. (SEC File No. 1-5480) 10.1G Form of Non-Qualified Stock Option Agreement. Incorporated by reference to Exhibit 10.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended March 29, 2014. (SEC File No. 1-5480) 10.1H Form of Stock-Settled Restricted Stock Unit Grant Agreement with Dividend Equivalents. Incorporated by reference to Exhibit 10.2 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended March 29, 2014. (SEC File No. 1-5480) 10.1I Form of Performance Share Unit Grant Agreement. Incorporated by reference to Exhibit 10.3 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended March 29, 2014. (SEC File No. 1-5480) 10.2 Textron Inc. Short-Term Incentive Plan. Incorporated by reference to Exhibit 10.2 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended April 1, 2017. 10.3A Textron Inc. 2015 Long-Term Incentive Plan. Incorporated by reference to Exhibit 10.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended July 4, 2015. 10.3B Form of Non-Qualified Stock Option Agreement under 2015 Long-Term Incentive Plan. Incorporated by reference to Exhibit 10.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended April 2, 2016. 10.3C Form of Stock-Settled Restricted Stock Unit (with Dividend Equivalents) Grant Agreement under 2015 Long-Term Incentive Plan. Incorporated by reference to Exhibit 10.2 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended April 2, 2016. 10.3D Form of Performance Share Unit Grant Agreement under 2015 Long-Term Incentive Plan. Incorporated by reference to Exhibit 10.3 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended April 2, 2016. 10.4 Textron Spillover Savings Plan, effective October 5, 2015. Incorporated by reference to Exhibit 10.4 to Textrons Annual Report on Form 10-K for the fiscal year ended January 2, 2016. 10.5A Textron Spillover Pension Plan, As Amended and Restated Effective January 3, 2010, including Appendix A (as amended and restated effective January 3, 2010), Defined Benefit Provisions of the Supplemental Benefits Plan for Textron Key Executives (As in effect before January 1, 2007). Incorporated by reference to Exhibit 10.4 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended April 3, 2010. (SEC File No. 1-5480) 10.5B Amendments to the Textron Spillover Pension Plan, dated October 12, 2011. Incorporated by reference to Exhibit 10.5B to Textrons Annual Report on Form 10-K for the fiscal year ended December 31, 2011. (SEC File No. 1-5480) 10.5C Second Amendment to the Textron Spillover Pension Plan, dated October 7, 2013. Incorporated by reference to Exhibit 10.5C to Textrons Annual Report on Form 10-K for the fiscal year ended December 28, 2013. (SEC File No. 1-5480) 10.6 Deferred Income Plan for Textron Executives, Effective October 5, 2015. Incorporated by reference to Exhibit 10.6 to Textrons Annual Report on Form 10-K for the fiscal year ended January 2, 2016. 10.7A Deferred Income Plan for Non-Employee Directors, As Amended and Restated Effective January 1, 2009, including Appendix A, Prior Plan Provisions (As in effect before January 1, 2008). Incorporated by reference to Exhibit 10.9 to Textrons Annual Report on Form 10-K for the fiscal year ended January 3, 2009. (SEC File No. 1-5480) 10.7B Amendment No. 1 to Deferred Income Plan for Non-Employee Directors, as Amended and Restated Effective January 1, 2009, dated as of November 6, 2012. Incorporated by reference to Exhibit 10.8B to Textrons Annual Report on Form 10-K for the fiscal year ended December 29, 2012. (SEC File No. 1-5480) 10.7C Amendment No. 2 to Deferred Income Plan for Non-Employee Directors, as Amended and Restated Effective January 1, 2009. Incorporated by reference to Exhibit 10.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended April 1, 2017. 10.7D Amendment No. 3 to Deferred Income Plan for Non-Employee Directors, as Amended and Restated Effective January 1, 2009. Incorporated by reference to Exhibit 10.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended September 29, 2018. 10.7E Amendment No. 4 to Deferred Income Plan for Non-Employee Directors, as Amended and Restated Effective January 1, 2009. 10.8A Severance Plan for Textron Key Executives, As Amended and Restated Effective January 1, 2010. Incorporated by reference to Exhibit 10.10 to Textrons Annual Report on Form 10-K for the fiscal year ended January 2, 2010. (SEC File No. 1-5480) 10.8B First Amendment to the Severance Plan for Textron Key Executives, dated October 26, 2010. Incorporated by reference to Exhibit 10.10B to Textrons Annual Report on Form 10-K for the fiscal year ended January 1, 2011. (SEC File No. 1-5480) 10.8C Second Amendment to the Severance Plan for Textron Key Executives, dated March 24, 2014. Incorporated by reference to Exhibit 10.5 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended March 29, 2014. (SEC File No. 1-5480) 10.9 Form of Indemnity Agreement between Textron and its executive officers. Incorporated by reference to Exhibit 10.9 to Textrons Annual Report on Form 10-K for the fiscal year ended December 30, 2017. 10.10 Form of Indemnity Agreement between Textron and its non-employee directors (approved by the Nominating and Corporate Governance Committee of the Board of Directors on July 21, 2009 and entered into with all non-employee directors, effective as of August 1, 2009). Incorporated by reference to Exhibit 10.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended October 3, 2009. (SEC File No. 1-5480) 10.11A Letter Agreement between Textron and Scott C. Donnelly, dated June 26, 2008. Incorporated by reference to Exhibit 10.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended June 28, 2008. (SEC File No. 1-5480) 10.11B Amendment to Letter Agreement between Textron and Scott C. Donnelly, dated December 16, 2008, together with Addendum No.1 thereto, dated December 23, 2008. Incorporated by reference to Exhibit 10.15B to Textrons Annual Report on Form 10-K for the fiscal year ended January 3, 2009. (SEC File No. 1-5480) 10.11C Amended and Restated Hangar License and Services Agreement, made and entered into as of October 1, 2015, between Textron Inc. and Mr. Donnellys limited liability company. Incorporated by reference to Exhibit 10.2 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended October 3, 2015. 10.11D Aircraft Dry Lease Agreement, made and entered into as of December 18, 2018, between Mr. Donnellys limited liability company and Textron Inc. Incorporated by reference to Exhibit 10.11D to Textron's Annual Report on Form 10-K for the fiscal year ended December 29, 2018. 10.12A Letter Agreement between Textron and Frank Connor, dated July 27, 2009. Incorporated by reference to Exhibit 10.2 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended October 3, 2009. (SEC File No. 1-5480) 10.12B Amended and Restated Hangar License and Services Agreement, made and entered into on July 24, 2015, between Textron Inc. and Mr. Connors limited liability company. Incorporated by reference to Exhibit 10.3 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended October 3, 2015. 10.13 Letter Agreement between Textron and Julie G. Duffy, dated July 27, 2017. Incorporated by reference to Exhibit 10.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2017. 10.14A Letter Agreement between Textron and E. Robert Lupone, dated December 22, 2011. Incorporated by reference to Exhibit 10.17 to Textrons Annual Report on Form 10-K for the fiscal year ended December 31, 2011. (SEC File No. 1-5480) 10.14B Amendment to letter agreement between Textron and E. Robert Lupone, dated July 27, 2012. Incorporated by reference to Exhibit 10.5 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended September 29, 2012. (SEC File No. 1-5480) 10.15 Textron Inc. 2015 Long-Term Incentive Plan Equity Program for Non-Employee Directors. 10.16 Director Compensation. 10.17 Form of Aircraft Time Sharing Agreement between Textron and its executive officers. Incorporated by reference to Exhibit 10.3 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended September 27, 2008. (SEC File No. 1-5480) 10.18 Credit Agreement, dated as of October 18, 2019, among Textron, the Lenders listed therein, JPMorgan Chase Bank, N.A., as Administrative Agent, Bank of America, N.A. and Citibank, N.A., as Syndication Agents, and MUFG Bank, Ltd., as Documentation Agent. Incorporated by reference to Exhibit 10.1 to Textrons Quarterly Report on Form 10-Q for the fiscal quarter ended September 28, 2019. 21 Certain subsidiaries of Textron. Other subsidiaries, which considered in the aggregate do not constitute a significant subsidiary, are omitted from such list. 23 Consent of Independent Registered Public Accounting Firm. 24 Power of attorney. 31.1 Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2 Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32.1 Certification of Chief Executive Officer Pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 32.2 Certification of Chief Financial Officer Pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.