Textron Inc.'s (TXT) goals, product-market strategies, investment requirements and financing needs in balance with its financing capabilities over the 3-5 year planning period? Please utilize the following information to determine how you would answer this question. In addition, please answer what approximate mix of debt and equity must be raised to remain in compliance with Textron's debt policy?

Textron Inc. is known for its powerful brands such as Bell Helicopter, Cessna, Beechcraft, Lycoming, E-Z-GO, Greenlee, Textron Off Road, Hawker, Jacobsen, Kautex, Arctic Cat, Textron Systems, and TRU Simulation + Training.

Textrons strategy centers around future growth with competitive technology and through acquisitions. Through this strategy, these goals are accomplished; here are a few notable examples from the last year:

Textron Aviation celebrated the rollout of the first production Cessna Citation Longitude on the companys east campus in Wichita on Monday, June 12. The milestone occasion marks the first time a Cessna product has rolled off a Beechcraft assembly since the two companies merged in 2014. The aircraft will join four other Longitudes in the companys flight test program this summer. The Longitude is expected to enter the market by the end of the year. The investment in the manufacturing technologies includes expanded vertical tooling stations as well as monolithic machining to reduce parts and provide precise tolerances for easier assembly. The Longitude is designed to elevate passenger expectations in the super midsize class by delivering greater range, cruise speed, cabin altitude, greater payload and revolutionary technology. Featuring an evolved Garmin flight deck, enhanced vision capability and the industrys most advanced on-board diagnostic system are just a few of the exciting and innovative elements. A focus on passenger experience was incorporated into designing the lowest cabin altitude and the quietest interior in its class (Aviation Week Network, 2017).

Bell Helicopter received type certification on the new 505 Jet Ranger X from Transport Canada Civil Aviation (Aerospace Manufacturing and Design, 2017).

Textron Specialized Vehicles acquired two specialized aircraft deicing manufacturers, Premier and Safeaero, expanding its Ground Support Equipment portfolio. TSV also introduced two sport utility side-by-sides, the Stampede and Stampede XTR, expanding its presence in the off-road vehicle market (Safeaero, 2016).

As Textron has many segments and/or business units, its competitors depend on which segment you are analyzing. However, the business most closely aligns with other Aerospace & Defense companies. Its main competitors include Lockheed Martin Corp, L3 Technologies Inc, Honeywell International Inc, Deere & Company, Northrop Grumman Corporation, Raytheon Company, General Dynamics Corporation & Spirit AeroSystems Holdings Inc in the aircraft and defense business.

Please note the following about the table below:

The next five years were calculated assuming a 5% increase in sales year over year ($ in millions).

External financing needs were determined by subtracting Total Liabilities from Total Assets.

While most of the company research highlights I read denote a 3 4% increase each year, Im predicting a slightly higher amount based on political components.

Trumps presidency, in my opinion, will lead to an administration that has much more military spending.

In the last month, Ive already noticed several military purchase agreements go through; Shaanxi Helicopter just signed a purchase agreement for 100 Bell helicopters. This agreement further develops Bell Helicopters support and presence in China.

The Beechcraft T-6C, the next generation of the T-6A aircraft, has achieved basic certification from the European Aviation Safety Agency (EASA). This certification enables the delivery of 10 T-6C aircraft previously ordered for the U.K. Ministry of Defenses Military Flying Training System (UKMFTS) program. It also expands opportunities to deliver a proven military training platform capable of fulfilling a wide range of mission needs for the European market.

Ellen Lord, a current Textron employee, was nominated by President Trump last month to the Under Secretary of Defense for Acquisition, Technology and Logistics within the Department of Defense. Ellen worked for Textron for 33 years and held a leadership position at Textron Systems over the past five years. She and her teams won several opportunities domestically and with international customers. With a former Textron employee working for the Trump administration, I anticipate this nomination provides an excellent political advantage for Textron products.

Textron has further scope to use debt to finance the future needs.

	2021	2020	2019	2018	2017	2016
Total Shareholder Equity	$ 5,574	$ 5,574	$ 5,574	$ 5,574	$ 5,574	$ 5,574
Long-term debt	$ 2,414	$ 2,414	$ 2,414	$ 2,414	$ 2,414	$ 2,414
Short-term debt	$ 463	$ 441	$ 420	$ 400	$ 381	$ 363
Debt Equity Ratio=total liability / total equity	0.52	0.51	0.51	0.50	0.50	0.50