TEXTRON INC
For the period ended Dec 28, 2024. Filed Feb 6, 2025.
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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.
FY2024 · Filed Feb 6, 2025
TXT$86.82+1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Schedule II – Valuation and Qualifying Accounts
| (In millions) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Allowance for credit losses on accounts receivable | |||
| Balance at beginning of year | $26 | $24 | $24 |
| Provision (reversal) for credit losses | (4) | 7 | 2 |
| Deductions from reserves* | (3) | (5) | (2) |
| Balance at end of year | $19 | $26 | $24 |
| Allowance for credit losses on finance receivables | |||
| Balance at beginning of year | $24 | $24 | $25 |
| Reversal for credit losses | (14) | (18) | (4) |
| Charge-offs | (1) | — | — |
| Recoveries | 10 | 18 | 3 |
| Balance at end of year | $19 | $24 | $24 |
| Inventory FIFO reserves | |||
| Balance at beginning of year | $390 | $350 | $370 |
| Charged to costs and expenses | 57 | 63 | 21 |
| Deductions from reserves* | (15) | (23) | (41) |
| Balance at end of year | $432 | $390 | $350 |
- Deductions primarily include amounts written off on uncollectible accounts (less recoveries), inventory disposals, changes to prior year estimates and currency translation adjustments.
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