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TXT > SEC Filings for TXT > Form 8-K on 20-Nov-2012All Recent SEC Filings

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Form 8-K for TEXTRON INC


20-Nov-2012

Other Events


Item 8.01 Other Events.

On November 16, 2012, in an arbitration proceeding initiated by Avcorp Industries, Inc. against Cessna Aircraft Company, a subsidiary of Textron Inc., an arbitral panel entered a final award against Cessna in the amount of approximately $27.4 million. The dispute related to an alleged breach of a supply agreement under which Avcorp made various components for Cessna aircraft. Although Cessna plans to vigorously contest this award, Textron will record a pretax charge of $27.4 million during the fourth quarter of 2012. This charge will negatively impact the company's fourth quarter earnings by approximately $0.06 per share.


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