RemovedRisk Factors
The 10-K against last year's
71 changes: 7 added, 8 removed, 56 reworded
10-K 0000217346-26-000006 (2026-02-11) vs 10-K 0000217346-25-000017 (2025-02-06)
The redline
The paragraph that changed most in each section
Marked against last year's 10-K:
cut words struck through, new words highlighted and underlined.
Risk Factors 244 words changed in this paragraph; it is 34% similar to last year's version.
To continue to grow our revenues and segment profit, we must successfully develop new products and technologies or modify our existing products and technologies for our current and future markets. Our future performance depends, in part, on our ability to identify emerging technological trends and customer requirements and to develop and maintain competitive products and services. Delays or cost overruns in the development Artificial intelligence technologies have developed rapidly and acceptance of new products or certification of new aircraft and other products occur from time to time and could adversely affect our results of operations. These delays or cost overruns could be caused by unanticipated technological hurdles, production changes to meet customer demands, unanticipated difficulties in obtaining required regulatory certifications of new aircraft or other products, or failure on the part of our suppliers to deliver components as agreed. We also could business may be adversely affected if our research and development efforts are less successful than expected or if these efforts require significantly more funding to achieve our goals than anticipated. In particular, the success of Textron eAviation depends in large part, on our ability to develop and certify new electric and hybrid electric aircraft products in order to achieve our long-term strategy of offering a family of sustainable aircraft for urban air mobility, general aviation, cargo and special mission roles. In addition, new products and technologies could generate unanticipated safety or other concerns resulting in expanded product liability risks, potential product recalls and other regulatory issues that could have an adverse impact on us. Furthermore, because of the lengthy research and development cycle involved in bringing certain of our products to market, we cannot predict the economic conditions that will exist when any new product is complete, and the market for our product offerings does not always develop or continue to expand as we anticipate. successfully
Source: Item 1A, 10-K 0000217346-26-000006 vs Item 1A, 10-K 0000217346-25-000017
MD&A 113 words changed in this paragraph; it is 50% similar to last year's version.
Textron Aviation’s revenues decreased $89 increased $671 million, 2%, 13%, in 2024, 2025, compared with 2023, 2024, reflecting lower higher aircraft revenues of $548 million and higher aftermarket parts and services revenues of $123 million. The increase in aircraft revenues was due to higher volume and mix of $270 million, which was principally a result of the strike discussed below, partially offset by and higher pricing of $181 million. Aircraft revenues decreased $203 million, 6%, pricing. The increase in volume and mix is largely due to lower volume and mix, largely from Citation higher jet and commercial turboprop deliveries, partially offset by volume. The higher pricing. volume and mix also reflects the recovery from the strike that began in the third quarter of 2024 and continued into the fourth quarter of 2024. We delivered 171 Citation jets and 146 commercial turboprops in 2025, compared with 151 Citation jets and 127 commercial turboprops in 2024, compared with 168 Citation jets and 153 commercial turboprops 2024. The increase in 2023. Aftermarket aftermarket parts and services revenues increased $114 million, 6%, was due to higher pricing and volume.
Source: Item 7, 10-K 0000217346-26-000006 vs Item 7, 10-K 0000217346-25-000017
Accounting Policies 41 words changed in this paragraph; it is 75% similar to last year's version.
In 2025, 2024 and 2023, our cumulative catch-up adjustments increased segment profit by $66 million, $31 million and $44 million, respectively, and net income by $50 million, $24 million and $34 million, respectively ($0.12 ($0.28, $0.12 and $0.17 per diluted share, respectively). In 2022, our cumulative catch-up adjustments decreased segment profit by $16 million and net income by $12 million ($0.06 per diluted share). Revenue was Revenues increased by $66 million, $32 million and $42 million in 2025, 2024 and 2023, respectively, and reduced by $25 million in 2022, related to changes in profit booking rates for performance obligations satisfied in prior periods.
Source: Item 8, Note 1 – Summary of Significant Accounting Policies, 10-K 0000217346-26-000006 vs Item 8, Note 1 – Summary of Significant Accounting Policies, 10-K 0000217346-25-000017
Legal Proceedings 2 words changed in this paragraph; it is 98% similar to last year's version.
In the ordinary course of business, we enter into standby letter of credit agreements and surety bonds with financial institutions to meet various performance and other obligations. These outstanding letter of credit arrangements and surety bonds aggregated to approximately $380 million and $336 million at January 3, 2026 and $338 million at December 28, 2024 and December 30, 2023, 2024, respectively.
Source: Item 3, via Note 17 – Commitments and Contingencies, 10-K 0000217346-26-000006 vs Item 3, via Note 17 – Commitments and Contingencies, 10-K 0000217346-25-000017
Every change, by type
Sentences and paragraphs added, removed or reworded
Sentences and paragraphs of TXT's Risk Factors and MD&A, 10-K 2026-02-11 against 10-K 2025-02-06. Each links to the text at sec.gov.
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