TEXTRON INC
For the period ended Dec 30, 2023. Filed Feb 12, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 12, 2024
TXT$86.82+1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Schedule II – Valuation and Qualifying Accounts
| (In millions) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Allowance for credit losses on accounts receivable | |||
| Balance at beginning of year | $24 | $24 | $36 |
| Provision (reversal) for credit losses | 7 | 2 | (1) |
| Deductions from reserves* | (5) | (2) | (11) |
| Balance at end of year | $26 | $24 | $24 |
| Allowance for credit losses on finance receivables | |||
| Balance at beginning of year | $24 | $25 | $35 |
| Reversal for credit losses | (18) | (4) | (9) |
| Charge-offs | — | — | (3) |
| Recoveries | 18 | 3 | 2 |
| Balance at end of year | $24 | $24 | $25 |
| Inventory FIFO reserves | |||
| Balance at beginning of year | $350 | $370 | $357 |
| Charged to costs and expenses | 63 | 21 | 40 |
| Deductions from reserves* | (23) | (41) | (27) |
| Balance at end of year | $390 | $350 | $370 |
- Deductions primarily include amounts written off on uncollectible accounts (less recoveries), inventory disposals, changes to prior year estimates, business dispositions and currency translation adjustments.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.