Textron 2019 Fact Book

of Telecom Investment Banking. Prior to that, he served as Goldman, Sachs & Co.’s chief operating officer of Telecom, Technology and Media Investment Banking. KEY EXECUTIVES Investing for future growth, organically and through acquisitions, is a key strategy for Textron. Here are a few notable examples. RONALD DRAPER Textron Aviation President and CEO LISA M. ATHERTON Textron Systems Segment President and CEO JÖRG RAUTENSTRAUCH Industrial Segment President and CEO R. DANNY MALDONADO Textron Financial Corporation President and CEO MITCH SNYDER Bell Helicopter President and CEO Commitment to Future Growth Textron 2019 Fact Book 1 (Dollars in millions) Textron Aviation Units delivered: Business jets King Airs Caravans Piston engine Backlog Revenues Segment profit Segment profit margin Total assets Capital expenditures Depreciation and amortization 2019 206 93 83 218 $1,714 $5,187 $ 449 8.7% $4,692 $ 122 $ 137 2019 $3,592 1,595 $5,187 2018 2017 2016 2015 188 180 178 166 94 86 106 117 92 69 84 102 227 274 262 312 $1,791 $1,180 $1,041 $1,074 $4,971 $4,686 $4,921 $4,822 $ 445 $ 303 $ 389 $ 400 9.0% 6.5% 7.9% 8.3% $4,290 $4,403 $4,460 $4,039 $ 132 $ 128 $ 157 $ 124 $ 145 $ 139 $ 140 $ 134 2018 2017 2016 2015 $3,435 $3,112 $3,412 $3,404 1,536 1,574 1,509 1,418 $4,971 $4,686 $4,921 $4,822 Cessna DenaliTM Cessna Longitude® 2 Textron 2019 Fact Book TEXTRON AVIATION Textron Aviation is home to Beechcraft, Cessna and Hawker brands, and is a leader in general aviation through two principal lines of business: aircraft and aftermarket parts and services. Aircraft includes sales of business jets, turboprop and piston aircraft, as well as military trainer and defense aircraft. Aftermarket parts and services includes commercial parts sales, maintenance, inspection and repair services. Aircraft 69% Aftermarket Parts and Services 31% Commercial 96% U.S. Government 4% U.S. 71% Europe 13% Asia and Australia 5% Other 11% 2019 REVENUES BY REGION 2019 REVENUES BY PRODUCT LINE 2019 REVENUES BY CUSTOMER 38%Textron Aviation’s share of Textron 2019 revenues KEY DATA (In millions) Aircraft Aftermarket Parts and Services Total revenues REVENUE DETAILS Cessna SkyCourierTM MAJOR PRODUCTS Std/Max Maximum Seating Capacity Maximum Range (nm) 2020 First (including Cruising (IFR w/NBAA MSRP Engine Engine Delivery pilots) Speed (kts) reserves) (in millions) Manufacturer Model Avionics Cessna Citation Jets M2 2013 8 404 1,550 $ 5.305 Williams International FJ44-1AP-21 Garmin G3000 CJ3+ 2014 10 416 2,040 $ 8.990 Williams International FJ44-3A Garmin G3000 CJ4 2010 10/11 451 2,165 $ 10.095 Williams International FJ44-4A Collins Pro Line 21 XLS+ 2008 11/14 441 2,100 $ 13.940 Pratt & Whitney Canada PW545C Collins Pro Line 21 Latitude 2015 11 446 2,850 $ 18.195 Pratt & Whitney Canada PW306D1 Garmin G5000 Sovereign+ 2013 11/14 460 3,200 $ 19.730 Pratt & Whitney Canada PW306D Garmin G5000 X+ 2014 11/14 528 3,460 $ 23.365 Rolls-Royce AE3007C2 Garmin G5000 Longitude 2019 10/14 483 3,500 $ 28.345 Honeywell HTF7700L Garmin G5000 Turboprops Cessna Caravan 1985 9/14 186 1,0703 $2.000 Pratt & Whitney Canada PT6A-114A Garmin G1000 NXi Cessna Grand Caravan EX 2012 11/14 185 912 3 $2.250 Pratt & Whitney Canada PT6A-140 Garmin G1000 NXi Beechcraft King Air C90GTx 2010 7/9 272 1,260 $4.200 Pratt & Whitney Canada PT6A-135A Collins Pro Line Fusion Beechcraft King Air 250 2011 9/11 310 1,720 $6.390 Pratt & Whitney Canada PT6A-52 Collins Pro Line Fusion Beechcraft King Air 350i 2010 11/13 312 1,806 $7.755 Pratt & Whitney Canada PT6A-60A Collins Pro Line Fusion Beechcraft King Air 350iER4 2010 11/13 303 2,692 $8.795 Pratt & Whitney Canada PT6A-60A Collins Pro Line Fusion New Turboprop Development Cessna SkyCourier 2 First Flight 20201 21/21 200 900 $5.500 Pratt & Whitney Canada PT6A-65SC Garmin G1000 NXi Cessna Denali TBD 8/11 285 1,600 $5.250 GE Aviation Catalyst Garmin G3000 Pistons Cessna 172S Skyhawk 1998 4 124 6403 $0.4 11 Textron Lycoming IO-360-L2A Garmin G1000 NXi Cessna Skylane 182T 2001 4 145 9153 $0.530 Textron Lycoming TIO-540-AB1A5 Garmin G1000 NXi Cessna Turbo Stationair T206HD 1998 6 161 7033 $0.735 Textron Lycoming TIO-540-AJ1A Garmin G1000 NXi Beechcraft Bonanza G36 2005 6 176 9203 $0.919 Continental Motors IO-550-B Garmin G1000 NXi Beechcraft Baron G58 2005 6 202 1,4803 $1.491 Continental Motors IO-550-C Garmin G1000 NXi Military Beechcraft T-6 1998 2 316 994 N/A5 Pratt & Whitney Canada PT6A-68 Esterline CMC 3000 Beechcraft AT-6 TBD 2 316 1,725 N/A5 Pratt & Whitney Canada PT6A-68D Esterline CMC 3000 Scorpion TBD 2 450 1,100 N/A5 Honeywell TFE731-40AR Garmin Citation Product Line Competition CIRRUS VISION JET PHENOM 100EV CITATION M2 HONDAJET CITATION CJ3+ PILATUS PC-24 CITATION CJ4 PHENOM 300E LEARJET 70 CITATION XLS+ LEARJET 75 LEGACY 450 PRAETOR 500 CITATION LATITUDE CITATION SOVEREIGN+ LEGACY 500 PRAETOR 600 CITATION X+ GULFSTREAM G280 LEGACY 650E CHALLENGER 350 CITATION LONGITUDE FALCON 2000S CHALLENGER 650 FALCON 2000LXS $2.0 $4.5 $4.7 $4.9 $8.3 $8.9 $9.2 $9.5 $11.3 $13.6 $13.8 $16.6 $17.0 $17.3 $18.8 $20.0 $21.0 $23.4 $24.5 $25.9 $26.7 $27.0 $30.0 $32.4 $35.1 2019 BUSINESS JET PRICE POINTS (Dollars in millions) PRE-OWNED CITATIONS FOR SALE (As a percent of fleet) 90 98 07 19 20% 15% 10% 5% Average ~12% AFTERMARKET PARTS AND SERVICES SALES (Dollars in millions) 443 502 562 606 666 721 587 667 727 793 916 1,386 1,509 1,574 1,536 1,595 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 1,418 Textron 2019 Fact Book 3 2019 Source: B&CA 2019 Purchase Planning Handbook edition & Textron Aviation Data 1 Estimated 2 Cessna SkyCourier Cargo Configuration 3 45 minute fuel reserve 4 Base airframe + ER options 5 Contact Textron Aviation Defense for aircraft and support package pricing Unless noted, aircraft are base airframe only—no options (Dollars in millions) Bell Units delivered: Commercial Backlog Revenues Segment profit Segment profit margin Total assets Capital expenditures Depreciation and amortization (In millions) Military aircraft and support programs Commercial helicopters, parts and services Total revenues 2019 201 $6,902 $3,254 $ 435 13.4% $2,783 $ 81 $ 107 2019 $1,988 1,266 $3,254 2018 2017 2016 2015 192 132 114 175 $5,837 $4,598 $5,360 $5,224 $3,180 $3,317 $3,239 $3,454 $ 425 $ 415 $ 386 $ 400 13.4% 12.5% 11.9% 11.6% $2,652 $2,660 $2,655 $2,829 $ 65 $ 73 $ 86 $ 97 $ 108 $ 117 $ 132 $ 143 2018 2017 2016 2015 $2,030 $2,076 $2,087 $2,033 1,150 1,241 1,152 1,421 $3,180 $3,317 $3,239 $3,454 REVENUE DETAILS 4 Textron 2019 Fact Book BELL Bell Helicopter is an industry-leading manufacturer of military vertical lift aircraft, the pioneer of the revolutionary tiltrotor aircraft with the V-22 and the next generation V-280, and commercial rotorcraft. Globally recognized for world-class customer service, innovation and superior quality, Bell’s global workforce serves customers flying Bell aircraft in more than 140 countries. Aircraft 69% Aftermarket Parts and Services 31% Commercial 96% U.S. Government 4% U.S. 71% Europe 13% Asia and Australia 5% Other 11% U.S. Government 62% Commercial 38% Marines 78% Navy 21% Army 1% U.S. 75% Asia and Australia 11% Europe 4% Other 10% 2019 REVENUES BY REGION 2019 REVENUES BY PRODUCT LINE 2019 REVENUES BY CUSTOMER 2019 REVENUES BY REGION 2019 REVENUES BY CUSTOMER 2019 U.S. GOVERNMENT REVENUES BY MILITARY BRANCH 24%Bell’s share of Textron 2019 revenues KEY DATA Bell 360 Invictus Bell V-280 Valor Bell-Boeing MV-22 Osprey Bell 525 Relentless Bell 505 Jet Ranger X COMMERCIAL BUSINESS • Bell launches New Bell 407GXi incorporating new avionics, an upgraded engine, and new executive interior design options. Earns IFR Certification • Bell 505 Jet Ranger X Fleet Surpasses 20,000 Flight Hours since its first delivery in 2017 • Bell Autonomous Pod Transport 70 Wins Popular Science “Best of What’s New in Aerospace” Award MILITARY BUSINESS • Bell V-280 Valor down selected in Q1 2020 as one of two competitors for the competitive demonstration and risk reduction phase in the U.S. Army’s Future Long-Range Assault Aircraft program • Bell 360 Invictus team selected in Q1 2020 as one of two competitors for the design, build and testing of a prototype for the U.S. Army’s Future Attack Reconnaissance Aircraft program • Bell-Boeing V-22 Osprey Fleet of more than 375 aircraft surpasses 500,000 Flight Hours Cruising Speed (kts) 125 133 150 122 106 160 158 160 180 266 280 Maximum Range (nm) 306 337 411 357 246 560 350 380 135 1,100 800 MAJOR PRODUCTS Light Bell 505 Jet Ranger X Bell 407GXi Bell 429/429WLG Medium Bell 412 EPI/EPX Bell Huey II New Commercial Helicopter Development Bell 525 Relentless Military Rotorcraft Bell UH-1Y Bell AH-1Z Bell 360 Invictus Military Tiltrotor Bell-Boeing V-22 Bell V-280 Description Light single-engine, five-seat helicopter with fully integrated glass cockpit Light single-engine helicopter with fully integrated glass cockpit Light twin-engine helicopter, best-in-class cabin volume Twin-engine with highest dispatch reliability and the lowest hourly cost Upgrade of U.S. Army and worldwide UH-1H model Huey Twin-engine with fly-by-wire flight controls State-of-the-art fully integrated utility and combat support helicopter State-of-the-art fully integrated weapons system attack helicopter Future Attack Reconnaissance Aircraft designed to meet or exceed the U.S. Army’s FARA requirements Military tiltrotor aircraft, being produced in partnership with Boeing Future Long-Range Assault Aircraft designed to meet or exceed the U.S. Army’s FLRAA requirements First Delivery 2017 2018 2009 2013 1995 TBD 2006 2006 TBD 1999 TBD Seating Capacity (including pilots) 5 7 8 15 15 20 12 2 2 27 16-18 Useful Load (lbs) 1,500 2,300 2,535 5,100 5,060 8,200 6,675 6,580 1,400 25,500 12,000+ 2019 COMMERCIAL PRODUCT PRICE POINTS (Dollars in millions) 2019 Source: Conklin & de Decker & Bell Data ROBINSON R66 $0.9 ENSTROM 480 $1.3 BELL 505 $1.3 MD 530F $2.5 H125 $2.9 MD 600N $3.0 BELL 407GXi $3.2 AW119KX $3.4 H130 $3.5 A109 GRAND $5.7 H135 $6.2 BELL 429 $6.5 H145 $8.1 AW169 $8.7 BELL 412 EPI $11.0 AW139 $11.3 H155 $11.9 S-76D $14.4 AW189 $15.8 H175 $17.3 BELL 525 TBD H225 $27.0 S-92 $30.6 Twin Engines Single Engine Bell Competition Bell 429 Global Ranger Textron 2019 Fact Book 5 E-Z-GO RXV ELiTE Lithium (Dollars in millions) Industrial Revenues Segment profit Segment profit margin Total assets Capital expenditures Depreciation and amortization 2019 $3,798 $ 217 5.7% $2,781 $ 97 $ 108 2019 $2,237 1,561 — $3,798 $3 2018 2017 2016 2015 $4,291 $4,286 $3,794 $3,544 $ 218 $ 290 $ 329 $ 302 5.1% 6.8% 8.7% 8.5% $2,815 $3,360 $2,409 $2,236 $ 132 $ 158 $ 121 $ 105 $ 112 $ 105 $ 81 $ 76 2018 2017 2016 2015 $2,352 $2,330 $2,273 $2,078 1,691 1,486 1,080 1,021 248 470 441 445 $4,291 $4,286 $3,794 $3,544 Arctic Cat RIOT 8000 6 Textron 2019 Fact Book INDUSTRIAL Our Industrial Segment designs and manufactures a variety of products within the Fuel Systems and Functional Components and Specialized Vehicles product lines. FUEL SYSTEMS AND FUNCTIONAL COMPONENTS Our Fuel Systems and Functional Components product line is produced by our Kautex business unit which is headquartered in Germany. Kautex is a leader in designing and manufacturing plastic fuel systems for automobiles and light trucks, including blow-molded solutions for conventional plastic fuel tanks and pressurized plastic fuel tanks for hybrid vehicle applications. Kautex also develops and manufactures clear-vision systems for automotive safety, advanced driver assistance systems and selective catalytic reduction systems. TEXTRON SPECIALIZED VEHICLES Textron Specialized Vehicles designs and manufactures golf cars, professional turf care equipment, commercial and industrial utility vehicles, recreational side-by-sides and ATVs, snowmobiles, and ground support equipment for the aviation industry. These products are sold under the E-Z-GO ® , Cushman® , Arctic Cat ®, Tracker Off Road® , Jacobsen® , Ransomes, TUGTM , DouglasTM , PremierTM and SafeaeroTM brands. These businesses have a diversified customer base that includes golf courses and resorts, government agencies and municipalities, consumers, outdoor enthusiasts, and commercial and industrial users such as factories, warehouses, airports, planned communities, hunting preserves, educational and corporate campuses, sporting venues, municipalities, utilities and agriculture and landscaping professionals. U.S. Government 62% Commercial 38% U.S. 75% Asia and Australia 11% Europe 4% Other 10% U.S. 44% Europe 29% Asia and Australia 10% Other 17% Unmanned Systems 43% Marine and Land Systems 16% Simulation, Training and Other 41% U.S. 82% Asia and Australia 8% Europe 5% Other 5% 2019 REVENUES BY REGION 2019 REVENUES BY PRODUCT LINE 2019 REVENUES BY REGION 28%Industrial’s share of Textron 2019 revenues KEY DATA (In millions) Fuel Systems and Functional Components Specialized Vehicles Tool and Test Equipment Total revenues REVENUE DETAILS Tracker Off Road 800SX Kautex Fuel Tank Consumer Commercial Golf Ground Support Equipment Turf Snow Lightweight, all-plastic hybrid fuel tank Next Generation Fuel Systems (NGFS® ® ) Conventional, co-extrusion fuel systems Selective Catalytic Reduction (SCR) Systems Windscreen, headlamp and camera cleaning systems/ solutions ADAS sensor cleaning systems/ solutions A wide range of vehicles in the outdoor powersports market, including side-by-sides and ATVs under the Arctic Cat and Tracker Off Road brands and personal transportation vehicles (PTVs) under the E-Z-GO brand. PTVs are modified E-Z-GO golf cars used primarily in planned communities and neighborhoods. Commercial utility vehicles used across markets including agriculture, construction, maintenance, manufacturing, and distribution facilities. Models range from commercial electric, gas, and diesel-powered side-by-sides to electrically powered industrial burden carriers and tuggers for indoor use. Vehicles are sold under the Cushman brand. Golf car fleets, utility, and hospitality vehicles at golf courses and resorts worldwide. Golf cars are sold under the E-Z-GO brand and the utility and hospitality vehicles are sold under the Cushman brand. Ground support equipment for airlines, cargo carriers, and airports worldwide. Product lines include towbarless and conventional aircraft pushbacks, deicing equipment, belt loaders, cargo and baggage tractors, ground power units, air-starts and mobile HVAC units. Equipment is sold under the TUG, Douglas, Premier, and Safeaero brands and under the Textron GSE name. Professional mowing and turf care equipment for groundskeepers and municipal and institutional turf managers sold under the Jacobsen and Ransomes brands. A variety of snowmobiles for the snow powersports market including trail, crossover, mountain, utility, touring, and youth sleds. All sleds are sold under the Arctic Cat brand. First to market in 2015, the all-plastic, lightweight pressurized fuel tank is suitable for hybrid applications. The tank is created using Kautex’s NGFS® twin sheet technology, adding patented stiffening elements to withstand the pressure/vacuum requirements needed for hybrid applications and eliminating the need for steel support. NGFS® technology, also known as “twin sheet” technology, helps reduce emissions and weight while potentially increasing volume depending on tank design. NGFS® is produced by lowering two sheets of multi-layered parison through the extrusion head of the blow molding machine. The “twin sheet” design allows easy access for components to be integrated directly into the plastic shell, thus eliminating the need for cutting and welding and reducing emissions. A multi-layer extrusion process that includes a series of virgin layers of High Density Polyethylene Extrusion, regrind, and ethylene vinyl alcohol—the “barrier” layer that reduces the emission of hydrocarbons into the atmosphere. The Kautex SCR system helps eliminate nitrogen oxide (NOx) emissions from diesel fuel systems. The SCR system injects AdBlue®®/DEF (Diesel Exhaust Fluid: urea/water solution) into the exhaust system, reducing the harmful NOx emission to water and nitrogen. SCR systems can reduce NOx by approximately 85% (98% less than EU 4/5) and reduce fuel consumption by 8%. Dirt from muddy roads, dust, frost, snow, and pollution can all affect the performance of the vehicle’s windshield, headlights or camera system(s). To help safeguard the full functionality of these components, Kautex Clear Vision Systems (CVS) has created solutions including washer fill & storage, washer fluid management and nozzles for headlights, windshields, camera and ADAS sensors. Autonomous driving vehicles require the usage of various cameras and sensors. For safety reasons these sensors need to be clean to ensure proper functionality of the related Advanced Driver Assistance Systems (ADAS). Arctic Cat M 8000 Mountain Cat Alpha One Kautex Clear Vision System MAJOR PRODUCTS Arctic Cat Wildcat XX Textron 2019 Fact Book 7 Textron Specialized Vehicles Kautex GSE Safeaero Cushman Hauler 800X ELiTE (Dollars in millions) Textron Systems Revenues Segment profit Segment profit margin Backlog Total assets Capital expenditures Depreciation and amortization 2019 $1,325 $ 141 10.6% $1,211 $2,352 $ 38 $ 48 2019 $ 572 208 545 $1,325 2018 2017 2016 2015 $1,464 $1,840 $1,756 $1,520 $ 156 $ 139 $ 186 $ 129 10.7% 7.6% 10.6% 8.5% $1,469 $1,406 $1,841 $2,328 $2,254 $2,330 $2,508 $2,398 $ 39 $ 60 $ 71 $ 86 $ 54 $ 65 $ 75 $ 80 2018 2017 2016 2015 $ 612 $ 714 $ 763 $ 686 311 470 294 188 541 656 699 646 $1,464 $1,840 $1,756 $1,520 Shadow UAS 8 Textron 2019 Fact Book TEXTRON SYSTEMS Textron Systems develops and integrates products, services, and support for aerospace and defense customers, as well as civil and commercial customers around the globe. Textron Systems’ product lines consist of Unmanned Systems, Marine and Land Systems, and Simulation, Training and Other which design, manufacture, field and support comprehensive solutions that expand customer capabilities and deliver value. Aircraft 69% Aftermarket Parts and Services 31% Commercial 96% U.S. Government 4% U.S. 71% Europe 13% Asia and Australia 5% Other 11% U.S. Government 62% Commercial 38% Marines 78% Navy 21% Army 1% U.S. 75% Asia and Australia 11% Europe 4% Other 10% Unmanned Systems 43% Marine and Land Systems 16% Simulation, Training and Other 41% U.S. 82% Asia and Australia 8% Europe 5% Other 5% 2019 REVENUES BY CUSTOMER 2019 REVENUES BY REGION 2019 REVENUES BY CUSTOMER 2019 U.S. GOVERNMENT REVENUES BY MILITARY BRANCH 2019 REVENUES BY REGION 2019 REVENUES BY PRODUCT LINE U.S. Government 73% Commercial 27% 10%Textron Systems’ share of Textron 2019 revenues KEY DATA (In millions) Unmanned Systems Marine and Land Systems Simulation, Training and Other Total revenues REVENUE DETAILS Textron Systems CUSV® RIPSAW® M5 Unmanned Aircraft Systems Unmanned Surface Systems Control Stations and Remote Products Support Solutions Marine Craft Land Vehicles Lycoming Engines Electronic Systems TRU Simulation + Training—Flight and Maintenance Training Simulators Textron Airborne Solutions Weapon and Sensor Systems Unmanned Systems’ multi-mission-capable unmanned aircraft systems (UAS) are utilized worldwide. The business’s platforms include the Shadow®® Tactical UAS (which has surpassed one million flight hours), the Aerosonde® Small UAS, the Aerosonde HQ, and the next-generation NIGHTWARDEN™ Tactical UAS. Unmanned Systems manufactures the Common Unmanned Surface Vehicle (CUSV™), the U.S. Navy’s first USV program of record, based on the larger Unmanned Influence Sweep System (UISS) program. Unmanned Systems also manufactures variations of command-and-control systems and collaboration technologies including the Synturian®® family of multi-domain control and collaboration technologies and the Universal Ground Control Station (UGCS), as well as the U.S. Army program of record One System® Remote Video Terminal (OSRVT™), Remote Tactical Terminal (RT2®®) and RT2-B (Bandit) variants. Support Solutions provides sustainment efforts for UAS, fixed-, and rotory-wing aircraft and marine and land vehicles. Manned and unmanned service offerings include: curriculum development, technical publications and training, maintenance and operation services. End-to-end logistics support offerings include: spares, repairs, provisioning and performance-based logistics. Our Field Service Representatives provide reliability, maintainability, availability, repair and supportability analysis. Textron Systems’ marine craft include the Ship-to-Shore Connector (SSC) and the Motor Lifeboat. The SSC is the next generation of the Landing Craft, Air Cushion (LCAC), offering increased reliability, maintainability and payload for the U.S. Navy and Marine Corps. The Motor Lifeboat (MLB), which has been in service for more than 20 years, is a rugged, highly survivable, all-aluminum rescue boat that enhances customers’ ability to perform a variety of operations in heavy weather conditions. The business designs, manufactures and supports the next generation of combat vehicles for the U.S. military, international militaries, special operations forces, police forces and civilian entities around the globe. The vehicles manufactured by Systems include the family of COMMANDO® 4x4 armored vehicles, the Robotic Combat Vehicle (RCV) RIPSAW® m5, Small Multi-Purpose Equipment Transport (SMET) Grizzly™, and Thermite™ remote firefighting robot. Each of these vehicles offers their customer a range of protection, survivability, versatility, reliability and sustainability for their unique multi-mission capabilities. Lycoming Engines offers a complete line of Federal Aviation Authority (FAA) Certificated and Experimental category aviation piston engines: horizontally opposed, air-cooled, four-, six- and eight-cylinder aircraft engines; the world’s only FAA Certificated aerobatic piston and helicopter piston engines; iE2 Integrated Electronic Engines; a high power density, liquid-cooled, jet fuel-burning diesel cycle engine; and a single-cylinder, jet fuel-burning, spark-ignited engine. In addition, Lycoming Engines offers a complete range of support services, from engines to spare parts, for the general aviation and experimental segments. Electronic Systems is a leader in the development and production of innovative, high-technology products and services for commercial, military, and government customers in the U.S. and internationally. It designs and manufactures a broad range of radio frequency, electro-optic, laser, and infrared devices used in training, test/ evaluation, and operational applications from the laboratory to the range to the battlefield. The business provides trainers and simulators for embedded shipboard naval crews, air defense, electronic combat, space operations and control, as well as reconfigurable mission system trainers. Electronic Systems also offers advanced geospatial intelligence solutions and services, which enable users to achieve enhanced productivity and geospatial awareness through management, discovery and analysis of the variety and magnitude of data at their disposal. For the global civil and defense aviation market, products range from Full Flight Simulators to Flat Panel Trainers for both fixed wing and rotorcraft. TRU offers a comprehensive array of upgradable and scalable products that meet all levels of qualification. TRU products utilize subsystems, such as the TRU Control Loading System powered by REALFeel® technology, REALCue™ motion controller as well as the REALVibe™ six degree of freedom mini-motion cueing and vibration platform. For the defense market, products also include complete maintenance training suites for aircraft, such as the C-17 and F-22. Textron Airborne Solutions’ unit Airborne Tactical Advantage Company (ATAC) has provided the U.S. Department of Defense with supersonic and subsonic adversary services for more than 20 years. With locations supporting East and West Coast U.S. operations, Hawaii and Japan, ATAC has pioneered outsourced commercial tactical airborne training support to the U.S. military and international partners. Weapon and Sensors offers advanced precision-guided weapons systems, airborne and ground-based sensors and surveillance systems, and protection systems for the defense and aerospace industries. Ship-to-Shore Connector (SSC) MAJOR PRODUCTS Aerosonde® Small Unmanned Aircraft System Textron 2019 Fact Book 9 Unmanned Systems Marine & Land Systems Simulation, Training and Other ATAC SeeGEO Lycoming iE 2 Integrated Electronic Engine Bell 407GXi 1 Segment profit for the Finance segment includes interest income and expense along with intercompany interest income and expense. (Dollars in millions) Finance Total finance receivables 60-Day + delinquency Nonaccrual % Debt to shareholders’ equity Revenues Segment profit1 Total assets Dividends paid to Textron Inc. 2019 $707 2.4% 5.5% 4.3x $ 66 $ 28 $964 $ 50 2018 2017 2016 2015 $789 $850 $976 $1,135 1.8% 4.0% 4.2% 6.2% 5.1% 7.2% 9.2% 7.6% 3.8x 3.8x 5.8x 5.2x $ 66 $ 69 $ 78 $ 83 $ 23 $ 22 $ 19 $ 24 $1,107 $1,169 $1,280 $1,316 $ 50 $ — $ 29 $ 63 10 Textron 2019 Fact Book FINANCE The Finance segment provides financing to customers purchasing new and pre-owned Textron Aviation aircraft and Bell helicopters. Textron Financial Corporation and its consolidated subsidiaries comprise the Finance segment. U.S. 44% Europe 29% Asia and Australia 10% Other 17% Unmanned Systems 43% Marine and Land Systems 16% Simulation, Training and Other 41% U.S. 82% Asia and Australia 8% Europe 5% Other 5% Long-term Debt 36% Subordinated Debt 35% Equity 19% EXIM/EDIC 10% Textron Aviation 55% Bell Helicopter 29% Non-captive 15% Independent Aviation 1% S S INE 2019 REVENUES BY REGION 2019 SOURCES OF FUNDING 2019 FINANCE RECEIVABLES <1%Finance’s share of Textron 2019 revenues KEY DATA Bell 505 Jet Ranger X Cessna CJ3 Beechcraft® King Air® 350i (Dollars in millions, except per share amounts) 2019 2018 Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Revenues Textron Aviation $1,010 $1,276 $1,133 $1,552 $ 4,971 Bell 752 831 770 827 3,180 Textron Systems 387 380 352 345 1,464 Industrial 1,131 1,222 930 1,008 4,291 Finance 16 17 15 18 66 Total Revenues $3,296 $3,726 $3,200 $3,750 $13,972 Segment Profit1 Textron Aviation $ 72 $ 104 $ 99 $ 170 $ 445 Bell 87 117 113 108 425 Textron Systems 50 40 29 37 156 Industrial 64 80 1 73 218 Finance 6 5 3 9 23 Total Segment Profit $ 279 $ 346 $ 245 $ 397 $ 1,267 Segment Profit Margins Textron Aviation 7.1% 8.2% 8.7% 11.0% 9.0% Bell 11.6% 14.1% 14.7% 13.1% 13.4% Textron Systems 12.9% 10.5% 8.2% 10.7% 10.7% Industrial 5.7% 6.5% 0.1% 7.2% 5.1% Finance 37.5% 29.4% 20.0% 50.0% 34.8% Total Profit Margin 8.5% 9.3% 7.7% 10.6% 9.1% Corporate expenses and other, net $ (27) $ (51) $ (29) $ (12) $ (119) Interest expense, net for the Manufacturing group (34) (35) (32) (34) (135) Special charges2 — — — (73) (73) Gain on business disposition3 — — 444 — 444 Income tax expense (29) (36) (65) (32) (162) Income (loss) from Continuing Operations—GAAP $ 189 $ 224 $ 563 $ 246 $ 1,222 Special charges, net of taxes — — — 56 56 Gain on business disposition, net of taxes — — (410) (9) (419) Income tax benefit resulting from the Tax Cuts and Jobs Act — — — (14) (14) Adjusted Income from Continuing Operations—Non-GAAP4 $ 189 $ 224 $ 153 $ 279 $ 845 Diluted EPS from Continuing Operations—GAAP $ 0.72 $ 0.87 $ 2.26 $ 1.02 $ 4.83 Gain on business disposition, net of taxes $ — $ — $ (1.65) $ (0.04) $ (1.65) Special charges, net of taxes — — — 0.23 0.22 Income tax benefit resulting from the Tax Cuts and Jobs Act — — — (0.06) (0.06) Adjusted Diluted EPS from Continuing Operations—Non-GAAP4 $ 0.72 $ 0.87 $ 0.61 $ 1.15 $ 3.34 1 Segment profit is an important measure used for evaluating performance and for decision-making purposes. Segment profit for the manufacturing segments excludes interest expense, certain corporate expenses, gains/losses on major business dispositions and special charges. The measurement for the Finance segment includes interest income and expense along with intercompany interest income and expense. 2 In the fourth quarter of 2019, special charges of $72 million were recorded under a restructuring plan, principally impacting the Industrial and Textron Aviation segments. Special charges of $73 million were recorded in the fourth quarter of 2018 under a restructuring plan for the Textron Specialized Vehicles businesses within our Industrial segment that was initiated in December 2018. 3 On July 2, 2018, Textron completed the sale of the Tools & Test Equipment product line which resulted in an after-tax gain of $419 million. 4 Adjusted income from continuing operations and adjusted diluted earnings per share both exclude Special chargres, net of taxes, Gain on business disposition, net of taxes, and the income tax benefit resulting from the Tax Cuts and Jobs Act (the “Tax Act”). The Gain on business disposition is not considered indicative of ongoing operations as it is a significant one-time transaction. We consider items recorded in Special charges such as enterprise-wide restructuring and acquisition-related restructuring, integration and transaction costs, to be of a non-recurring nature that is not indicative of ongoing operations. In addition, the impact from the Tax Act is not considered to be indicative of ongoing operations since it represents a one-time adjustment related to a significant tax reform of a non-recurring nature. FINANCIAL DATA 2019-2018 Textron 2019 Fact Book 11 $1,134 $1,123 $1,201 $1,729 $ 5,187 739 771 783 961 3,254 307 308 311 399 1,325 912 1,009 950 927 3,798 17 16 14 19 66 $3,109 $3,227 $3,259 $4,035 $13,630 $ 106 $ 105 $ 104 $ 134 $ 449 104 103 110 118 435 28 49 31 33 141 50 76 47 44 217 6 6 5 11 28 $ 294 $ 339 $ 297 $ 340 $ 1,270 9.3% 9.4% 8.7% 7.8% 8.7% 14.1% 13.4% 14.0% 12.3% 13.4% 9.1% 15.9% 10.0% 8.3% 10.6% 5.5% 7.5% 4.9% 4.7% 5.7% 35.3% 37.5% 35.7% 57.9% 42.4% 9.5% 10.5% 9.1% 8.4% 9.3% $ (47) $ (24) $ (17) $ (22) $ (110) (35) (36) (39) (36) (146) — — — (72) (72) — — — — — (33) (62) (21) (11) (127) $ 179 $ 217 $ 220 $ 199 $ 815 — — — 55 55 — — — — — — — — — — $ 179 $ 217 $ 220 $ 254 $ 870 $ 0.76 $ 0.93 $ 0.95 $ 0.87 $ 3.50 $ — $ — $ — $ — $ — — — — 0.24 0.24 — — — — — $ 0.76 $ 0.93 $ 0.95 $ 1.11 $ 3.74 SELECTED FINANCIAL STATISTICS 2019-2015 (Dollars in millions, except where noted and per share amounts) 2019 2018 2017 2016 2015 Income Statement Data Revenues Segment profit Corporate expenses and other, net Interest expense, net for Manufacturing group Special charges Gain on business disposition Income tax expense Effective tax rate Income from continuing operations Diluted EPS from continuing operations Balance Sheet Data—Manufacturing Group Cash and equivalents Accounts receivable, net Inventories Property, plant and equipment, net Goodwill Total assets Total debt Total liabilities Total Company shareholders’ equity Non-GAAP Cash Flow Calculations—Manufacturing Group Net cash from operating activities of continuing operations—GAAP 1 Less: Capital expenditures Dividends received from TFC Plus: Total pension contributions Proceeds from the sale of property, plant and equipment Taxes paid on gain on business disposition Manufacturing cash flow before pension contributions—Non-GAAP1, 2 Cash Flow Items—Manufacturing Group Depreciation and amortization Net cash used in acquisitions Net proceeds from business disposition Net change in debt Dividends paid Purchases of Textron common stock Total number of shares purchased (in thousands) Key Ratios Segment profit margin Selling and administrative expense as % of sales Inventory turns (based on FIFO) Debt-to-capital (net of cash)—Manufacturing group Stock-Related Information Stock price at year-end Dividend payout ratio Dividends declared per share Other Statistics Number of employees at year-end Average revenues per employee (in thousands) 1 For the years 2017, 2016, and 2015, $17 million, $87 million and $8 million, respectively, of net proceeds from the settlement of corporate-owned life insurance policies were reclassified from operating activities to investing activities as a result of the adoption of a new accounting standard at the beginning of 2018. 2 Manufacturing cash flow before pension contributions adjusts net cash from operating activities of continuing operations (GAAP) for the following: • Deducts capital expenditures and includes proceeds from the sale of property, plant and equipment to arrive at the net capital investment required to support ongoing manufacturing operations; • Excludes dividends received from Textron Financial Corporation (TFC) and capital contributions to TFC provided under the Support Agreement and debt agreements as these cash flows are not representative of manufacturing operations; • Adds back pension contributions as we consider our pension obligations to be debt-like liabilities. Additionally, these contributions can fluctuate significantly from period to period and we believe that they are not representative of cash used by our manufacturing operations; • Excludes taxes paid related to the gain realized in 2018 on the Tools and Test business disposition. We have made this adjustment to the non-GAAP measure because we believe this use of cash is not representative of cash used by our manufacturing operations. While we believe this measure provides a focus on cash generated from manufacturing operations, before pension contributions, and may be used as an additional relevant measure of liquidity, it does not necessarily provide the amount available for discretionary expenditures since we have certain non-discretionary obligations that are not deducted from the measure. 12 Textron 2019 Fact Book $13,630 1,270 (110) (146) (72) — (127) 13.5% $ 815 $ 3.50 $ 1,181 921 4,069 2,527 2,150 14,054 3,124 8,697 5,518 $ 960 (339) (50) 51 9 11 $ 642 $ 410 (2) — 49 (18) (503) 10,011 9.3% 8.5% 2.9x 26% $ 44.74 2% $ 0.08 35,000 389 $13,972 1,267 (119) (135) (73) 444 (162) 11.7% $ 1,222 $ 4.83 $ 987 1,024 3,818 2,615 2,218 13,247 3,066 8,246 5,192 $ 1,127 (369) (50) 52 14 10 $ 784 $ 429 (23) 807 (5) (20) (1,783) 29,094 9.1% 9.1% 2.8x 29% $ 45.65 2% $ 0.08 35,000 399 $14,198 1,169 (132) (145) (130) — (456) 59.8% $ 306 $ 1.14 $ 1,079 1,363 4,150 2,721 2,364 14,171 3,088 8,740 5,647 $ 930 (423) — 358 7 — $ 872 $ 435 (331) — 288 (21) (582) 11,918 8.2% 9.4% 2.4x 26% $ 56.59 7% $ 0.08 37,000 384 $13,423 1,255 (154) (130) — — (273) 28.1% $ 698 $ 2.50 $ 946 1,047 4,144 2,492 2,023 13,392 2,697 8,603 4,964 $ 1,030 (420) (63) 68 8 — $ 623 $ 449 (81) — (100) (22) (219) 5,197 9.3% 9.7% 2.4x 26% $ 42.01 3% $ 0.08 35,000 384 $13,788 1,309 (172) (138) (123) — (33) 3.8% $ 843 $ 3.09 $ 1,137 1,064 4,464 2,581 2,113 14,078 2,777 8,661 5,574 $ 901 (446) (29) 50 10 — $ 486 $ 437 (186) — 91 (22) (241) 6,898 9.5% 9.6% 2.3x 23% $ 48.56 3% $ 0.08 36,000 383 RETURN ON INVESTED CAPITAL (ROIC) Certain statements in this Fact Book and other oral and written statements made by us from time to time are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which may describe strategies, goals, outlook or other non-historical matters, or project revenues, income, returns or other financial measures, often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “guidance,” “project,” “target,” “potential,” “will,” “should,” “could,” “likely” or “may” and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. In addition to those factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under “Risk Factors,” among the factors that could cause actual results to differ materially from past and projected future results are the following: Interruptions in the U.S. Government’s ability to fund its activities and/or pay its obligations; changing priorities or reductions in the U.S. Government defense budget, including those related to military operations in foreign countries; our ability to perform as anticipated and to control costs under contracts with the U.S. Government; the U.S. Government’s ability to unilaterally modify or terminate its contracts with us for the U.S. Government’s convenience or for our failure to perform, to change applicable procurement and accounting policies, or, under certain circumstances, to withhold payment or suspend or debar us as a contractor eligible to receive future contract awards; changes in foreign military funding priorities or budget constraints and determinations, or changes in government regulations or policies on the export and import of military and commercial products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; volatility in interest rates or foreign exchange rates; risks related to our international business, including establishing and maintaining facilities in locations around the world and relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business, including in emerging market countries; our Finance segment’s ability to maintain portfolio credit quality or to realize full value of receivables; performance issues with key suppliers or subcontractors; legislative or regulatory actions, both domestic and foreign, impacting our operations or demand for our products; our ability to control costs and successfully implement various cost-reduction activities; the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; pension plan assumptions and future contributions; demand softness or volatility in the markets in which we do business; cybersecurity threats, including the potential misappropriation of assets or sensitive information, corruption of data or, operational disruption; difficulty or unanticipated expenses in connection with integrating acquired businesses; the risk that acquisitions do not perform as planned, including, for example, the risk that acquired businesses will not achieve revenue and profit projections; the impact of changes in tax legislation; and risks and uncertainties related to the impact of the COVID-19 pandemic on our business and operations. FORWARD-LOOKING STATEMENTS (Dollars in millions) ROIC Income1 Income from continuing operations2 Interest expense for Manufacturing Group Gain on business disposition, net of taxes Special charges, net of taxes Special Income Tax items ROIC Income Invested Capital at end of year Total shareholders’ equity3 Total Manufacturing Group debt Cash and cash equivalents for Manufacturing Group Eliminate gain on business disposition, net of taxes Eliminate special charges, net of taxes Eliminate Special Income Tax items Invested Capital at end of year, as adjusted Invested Capital at beginning of year Average Invested Capital Return on Invested Capital 2019 $ 815 111 — 55 — $ 981 $ 5,518 3,124 (1,181) — 55 — 7,516 7,271 $ 7,394 13.3% 1 In 2017, we revised our ROIC calculation to align with our adjusted income from continuing operations Non-GAAP financial measure. Prior periods have been restated to conform to this presentation. 2 Income from continuing operations included the following pre-tax items: 2015 included $12 million of amortization expense related to fair value step-up adjustments of Beechcraft acquired inventories sold in the period. 3 We adopted ASU No. 2014-09, Revenue from Contracts with Customers, at the beginning of 2018 and recorded a $90 million adjustment to increase Shareholders’ Equity to reflect the cumulative impact of adoption, primarily related to certain long-term contracts that converted to the cost-to-cost method for revenue recognition. Under the modified retrospective transition method that we elected upon adoption, prior periods were not restated. Return on invested capital (ROIC) is a non-GAAP financial measure that our management believes is useful to investors as a measure of performance and the effectiveness of the use of capital in our operations. We measure ROIC by dividing ROIC income by average invested capital. ROIC income includes income from continuing operations and adds back after- tax amounts for 1) interest expense for the Manufacturing Group, 2) gains or losses on the sales of businesses or product lines, 3) Special charges and 4) operating results related to discontinued operations. In addition, ROIC income is adjusted to exclude the impact of one-time income tax items. At the beginning of the year, our invested capital represents total shareholders’ equity and Manufacturing Group debt, less its cash and equivalents and any outstanding amounts loaned to the Finance group. At the end of the year, we typically adjust ending invested capital for significant events unrelated to our normal operations for the year such as Special charges, one-time income tax items and dispositions. 2018 2017 2016 2015 $ 1,222 $ 306 $ 843 $ 698 103 91 88 83 (419) — — — 56 86 78 — (14) 266 (206) — $ 948 $ 749 $ 803 $ 781 $5,192 $ 5,647 $ 5,574 $4,964 3,066 3,088 2,777 2,697 (987) (1,079) (1,137) (946) (419) — — — 56 86 78 — (14) 266 (206) — 6,894 8,008 7,086 6,715 7,656 7,214 6,715 6,352 $ 7,275 $ 7,611 $ 6,901 $6,534 13.0% 9.8% 11.6% 12.0% BUSINESS DIRECTORY STOCK INFORMATION World Headquarters Textron Inc. 40 Westminster Street Providence, RI 02903 (401) 421-2800 www.textron.com Bell Bell Helicopter 3255 Flight Boulevard Fort Worth, TX 76118 (817) 280-2011 www.bellflight.com Textron Systems Textron Systems 124 Industry Lane Hunt Valley, MD 21030 (800) 655-2616 www.textronsystems.com www.howeandhowe.com www.trusimulation.com www.textronair.com www.lycoming.com Textron Aviation Textron Aviation One Cessna Boulevard Wichita, KS 67215 (316) 517-6000 www.txtav.com Textron Financial Textron Financial Corporation Two Cessna Boulevard Suite 100 Wichita, KS 67215 (800) 660-1260 www.textronfinancial.com Industrial Kautex Kautexstrasse 52 53229 Bonn Germany +49-228-4880 www.kautex.com Textron Specialized Vehicles 1451 Marvin Griffin Road Augusta, GA 30906 (706) 798-4311 www.ezgo.com www.cushman.com www.arcticcat.com www.textrongse.com www.jacobsen.com www.ransomesjacobsen.com/ europe Investors Eric Salander Vice President, Investor Relations & Treasurer esalander@textron.com (401) 457-2288 Cameron Vollmuth Manager, Investor Relations cvollmuth@textron.com (401) 457-2288 Banks and Rating Agencies Eric Salander Vice President, Investor Relations & Treasurer esalander@textron.com (401) 457-2288 (401) 457-2220 (fax) Media David Sylvestre Executive Director, Communications dsylvestre@textron.com (401) 457-2362 (401) 457-3598 (fax) Stock Exchange Listing Ticker Symbol – TXT Common Stock New York Stock Exchange Transfer Agent and Registrar American Stock Transfer & Trust Company, LLC Operations Center 6201 15th Avenue Brooklyn, NY 11219 (866) 621-2790 www.amstock.com Email: info@amstock.com Capital Stock (as of January 4, 2020) Common Stock: par value $0.125 per share 500,000,000 shares authorized 227,955,790 shares outstanding Dividends Common Stock Record dates: March 15, June 14, September 13 and December 13, 2019 Payable dates: April 1, July 1, October 1, 2019 and January 1, 2020 Stock Splits Record dates: December 17, 1965; August 11, 1967; May 11, 1987; May 9, 1997; August 3, 2007 Distribution dates: January 1, 1966; September 1, 1967; June 1, 1987; May 30, 1997; August 24, 2007 This Fact Book is one of several sources of information available to Textron Inc. shareholders and the investment community. To receive a copy of Textron’s Forms 10-K, 10-Q, Proxy Statement or Annual Report, visit our website at www.textron.com or send your written request to Textron Investor Relations at the address listed above. For the most recent company news and earnings press releases, visit our website at www.textron.com. SHARE OWNERSHIP (As of December 2019) U.S. Institutions 77% Savings Plan/Directors 9% Retail/Other 8% Foreign Institutions 6% Legal Entities Bell Textron Inc. (“Bell”) is a wholly-owned subsidiary of Textron Inc. Bell consists of several subsidiaries and operating divisions. The Textron Systems group of businesses includes TRU Simulation + Training Inc., Textron Airborne Solutions Inc. and Avco Corporation (“Avco”), each of which is a wholly-owned subsidiary of Textron Inc.; Textron Systems Corporation, a subsidiary of Avco, which has various subsidiaries and other operations; and Lycoming Engines, an operating division of Avco. Textron Aviation Inc., which has various subsidiaries, is wholly-owned by Textron Inc. Kautex conducts its business through a number of separately incorporated companies and other operations. Textron Specialized Vehicles Inc. is a wholly-owned subsidiary of Textron Inc., and E-Z-GO and Jacobsen are both operating divisions of Textron Inc. Textron Financial Corporation (“Textron Financial”) is a wholly-owned subsidiary of Textron Inc. Textron Financial consists of several subsidiaries and operating divisions. Patents and Trademarks We own, or are licensed under, numerous patents throughout the world relating to products, services and methods of manufacturing. Patents developed while under contract with the U.S. Government may be subject to use by the U.S. Government. We also own or license active trademark registrations and pending trademark applications in the U.S. and in various foreign countries or regions, as well as trade names and service marks. While our intellectual property rights in the aggregate are important to the operation of our business, we do not believe that any existing patent, license, trademark or other intellectual property right is of such importance that its loss or termination would have a material adverse effect on our business taken as a whole. Some of these trademarks, trade names and service marks are used in this Annual Report on Form 10-K and other reports, including: A-2 PATS; Able Aerospace Services; Able Preferred; Aeronautical Accessories; Aerosonde; ALPHA; Alterra; AH-1Z; Arctic Cat; AT-6; ATAC; AVCOAT; Baron; Bearcat; Beechcraft; Beechcraft T-6; Bell; Bell Helicopter; BIG DOG; BlackWorks McCauley; BLAST; Bonanza; Cadillac Gage; CAP; Caravan; Cessna; Cessna SkyCourier; Citation; Citation Latitude; Citation Longitude; Citation M2; Citation Sovereign; Citation XLS+; CJ1+; CJ2+; CJ3; CJ3+; CJ4; Clairity; CLAW; Commando; Cushman; Customer Advantage Plans; CUSV; Denali; Eclipse; El Tigre; EX1; Express Start; E-Z-GO; E-Z-GO EXPRESS; FAST-N-LATCH; Firecat; FOREVER WARRANTY; Freedom; Fury; GLOBAL MISSION SUPPORT; Grand Caravan; GRIZZLY; H-1; HAULER; Hawker; Huey; Huey II; HUNTSMAN; IE2; Integrated Command Suite; INTELLIBRAKE; Jacobsen; Jet Ranger X; Kautex; King Air; King Air C90GTx; King Air 250; King Air 350; Kiowa Warrior; LF; Lycoming; Lynx; M1117 ASV; McCauley; Mission Critical Support (MCS); MISSIONLINK; Motorfist; MudPro; Mustang; Next Generation Carbon Canister; Next Generation Fuel System; NGCC; NGFS; NightWarden; Odyssey; Pantera; Power Advantage; Premier; Pro-Fit; ProFlight; ProParts; ProPropeller; Prowler; Ransomes; REALCue; REALFeel; Relentless; RIPSAW; RT2 ; RXV; Safeaero; Scorpion; SEEGEO; Shadow; Shadow Knight; Shadow Master; SKYCOURIER; Skyhawk; Skyhawk SP; Skylane; SkyPLUS; Sno Pro; SnoCross; Sovereign; SNOWMEGEDDON; Speedrack; Stampede; Stationair; Super Cargomaster; Super Medium; SuperCobra; Synturian; Team Arctic; Textron; Textron Airborne Solutions; Textron Aviation; Textron Financial Corporation; Textron GSE; Textron Systems; Thundercat; TrainOnsite; TRUESET; TRU Simulation + Training; TRUCKSTER; TTx; TUG; Turbo Skylane; Turbo Stationair; TRV; TXT; UH-1Y; VALOR; Value-Driven MRO Solutions; V-22 Osprey; V-247; V-280; Wildcat; Wolverine; ZR; 2FIVE; 206; 206L4; 407; 407GXi; 412; 412EPI; 429; 429WLG; 505; 525 and 525 Relentless. These marks and their related trademark designs and logotypes (and variations of the foregoing) are trademarks, trade names or service marks of Textron Inc., its subsidiaries, affiliates or joint ventures. © 2020 Textron Inc. | www.textron.com