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10-Q Filing

BORGWARNER INC CIK: 908255 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0000908255-18-000027
Period End Date 20180331
Filing Date 20180426
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance bwa-20180331.xml
Filing Contents
Balance Sheet 67 line items
Line Item Tag Value Unit Period
Cash CashAndCashEquivalentsAtCarryingValue $443.70M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $358.40M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $545.30M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $409.70M USD Point-in-time
Receivables, net ReceivablesNetCurrent $2.02B USD Point-in-time
Receivables, net ReceivablesNetCurrent $2.25B USD Point-in-time
Inventories, net InventoryNet $758.90M USD Point-in-time
Inventories, net InventoryNet $800.40M USD Point-in-time
Prepayments and other current assets PrepaidExpenseAndOtherAssetsCurrent $154.80M USD Point-in-time
Prepayments and other current assets PrepaidExpenseAndOtherAssetsCurrent $171.00M USD Point-in-time
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperation $69.60M USD Point-in-time
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperation $67.30M USD Point-in-time
Total current assets AssetsCurrent $3.70B USD Point-in-time
Total current assets AssetsCurrent $3.55B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.92B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.86B USD Point-in-time
Investments and other long-term receivables LongTermInvestments $547.40M USD Point-in-time
Investments and other long-term receivables LongTermInvestments $581.80M USD Point-in-time
Goodwill Goodwill $1.89B USD Point-in-time
Goodwill Goodwill $1.88B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $485.20M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $492.70M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $458.70M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $455.60M USD Point-in-time
Total assets Assets $9.79B USD Point-in-time
Total assets Assets $10.03B USD Point-in-time
Notes payable and other short-term debt NotesPayableCurrent $84.60M USD Point-in-time
Notes payable and other short-term debt NotesPayableCurrent $194.00M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $2.27B USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $2.16B USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $40.80M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $44.40M USD Point-in-time
Liabilities held for sale LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent $37.80M USD Point-in-time
Liabilities held for sale LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent $29.50M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.43B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.44B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.10B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $2.13B USD Point-in-time
Asbestos-related liability Asbestosrelatedliabilitynoncurrent $775.70M USD Point-in-time
Asbestos-related liability Asbestosrelatedliabilitynoncurrent $761.30M USD Point-in-time
Retirement-related liabilities PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $300.20M USD Point-in-time
Retirement-related liabilities PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $301.60M USD Point-in-time
Other OtherLiabilitiesNoncurrent $355.50M USD Point-in-time
Other OtherLiabilitiesNoncurrent $389.40M USD Point-in-time
Total other non-current liabilities LiabilitiesOtherThanLongtermDebtNoncurrent $1.43B USD Point-in-time
Total other non-current liabilities LiabilitiesOtherThanLongtermDebtNoncurrent $1.45B USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock CommonStockValue $2.50M USD Point-in-time
Common stock CommonStockValue $2.50M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $1.10B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $1.12B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $4.53B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $4.72B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-674.20M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-722.10M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-430.30M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-490.00M USD Point-in-time
Common stock held in treasury TreasuryStockValue $1.45B USD Point-in-time
Common stock held in treasury TreasuryStockValue $1.49B USD Point-in-time
Total BorgWarner Inc. stockholders equity StockholdersEquity $3.72B USD Point-in-time
Total BorgWarner Inc. stockholders equity StockholdersEquity $3.91B USD Point-in-time
Noncontrolling interest MinorityInterest $105.10M USD Point-in-time
Noncontrolling interest MinorityInterest $109.10M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.02B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.83B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $9.79B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $10.03B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueGoodsNet $2.78B USD 1 Quarter
Net sales SalesRevenueGoodsNet $2.41B USD 1 Quarter
Cost of sales CostOfGoodsSold $1.89B USD 1 Quarter
Cost of sales CostOfGoodsSold $2.19B USD 1 Quarter
Gross profit GrossProfit $591.80M USD 1 Quarter
Gross profit GrossProfit $516.30M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $219.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $253.40M USD 1 Quarter
Other expense, net OtherOperatingIncomeExpenseNet $-5.80M USD 1 Quarter
Other expense, net OtherOperatingIncomeExpenseNet $-4.90M USD 1 Quarter
Operating income OperatingIncomeLoss $291.50M USD 1 Quarter
Operating income OperatingIncomeLoss $333.50M USD 1 Quarter
Equity in affiliates earnings, net of tax IncomeLossFromEquityMethodInvestments $10.20M USD 1 Quarter
Equity in affiliates earnings, net of tax IncomeLossFromEquityMethodInvestments $9.70M USD 1 Quarter
Interest income InvestmentIncomeInterest $1.50M USD 1 Quarter
Interest income InvestmentIncomeInterest $1.50M USD 1 Quarter
Interest expense and finance charges InterestAndDebtExpense $16.10M USD 1 Quarter
Interest expense and finance charges InterestAndDebtExpense $18.00M USD 1 Quarter
Other postretirement income PensionAndOtherPostretirementBenefitExpense $-1.20M USD 1 Quarter
Other postretirement income PensionAndOtherPostretirementBenefitExpense $-2.60M USD 1 Quarter
Earnings before income taxes and noncontrolling interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $285.90M USD 1 Quarter
Earnings before income taxes and noncontrolling interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $331.70M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $94.90M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $86.30M USD 1 Quarter
Net earnings ProfitLoss $199.60M USD 1 Quarter
Net earnings ProfitLoss $236.80M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $10.40M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $11.70M USD 1 Quarter
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $225.10M USD 1 Quarter
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $189.20M USD 1 Quarter
Earnings per share basic EarningsPerShareBasic $1.07 USD 1 Quarter
Earnings per share basic EarningsPerShareBasic $0.89 USD 1 Quarter
Earnings per share diluted EarningsPerShareDiluted $1.07 USD 1 Quarter
Earnings per share diluted EarningsPerShareDiluted $0.89 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 209.47M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 211.60M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 210.77M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 212.24M shares 1 Quarter
Dividends declared per share CommonStockDividendsPerShareDeclared $0.14 USD 1 Quarter
Dividends declared per share CommonStockDividendsPerShareDeclared $0.17 USD 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $199.60M USD 1 Quarter
Net earnings ProfitLoss $236.80M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $97.30M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $109.20M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $13.10M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $14.70M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $20.60M USD 1 Quarter
Deferred income tax provision DeferredIncomeTaxExpenseBenefit $8.20M USD 1 Quarter
Restructuring expense, net of cash paid RestructuringCosts $6.90M USD 1 Quarter
Restructuring expense, net of cash paid RestructuringCosts - USD 1 Quarter
Equity in affiliates earnings, net of dividends received, and other EquityInAffiliatesEarningsNetOfDividendsReceivedAndOther $-9.50M USD 1 Quarter
Equity in affiliates earnings, net of dividends received, and other EquityInAffiliatesEarningsNetOfDividendsReceivedAndOther $-11.00M USD 1 Quarter
Net earnings adjusted for non-cash charges to operations AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $321.10M USD 1 Quarter
Net earnings adjusted for non-cash charges to operations AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $364.80M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $215.40M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $187.10M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $5.50M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $27.50M USD 1 Quarter
Prepayments and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $8.70M USD 1 Quarter
Prepayments and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $13.60M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-109.10M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-16.30M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $3.10M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-16.50M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-1.60M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-4.10M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $60.30M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $34.70M USD 1 Quarter
Capital expenditures, including tooling outlays PaymentsToAcquireProductiveAssets $130.90M USD 1 Quarter
Capital expenditures, including tooling outlays PaymentsToAcquireProductiveAssets $160.40M USD 1 Quarter
Payments for venture capital investment PaymentsToAcquireInterestInSubsidiariesAndAffiliates $1.50M USD 1 Quarter
Payments for venture capital investment PaymentsToAcquireInterestInSubsidiariesAndAffiliates $600.00K USD 1 Quarter
Proceeds from asset disposals and other PaymentsForProceedsFromProductiveAssets $-100.00K USD 1 Quarter
Proceeds from asset disposals and other PaymentsForProceedsFromProductiveAssets $300.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-132.70M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-160.90M USD 1 Quarter
Net increase in notes payable ProceedsFromRepaymentsOfNotesPayable $74.40M USD 1 Quarter
Net increase in notes payable ProceedsFromRepaymentsOfNotesPayable $117.40M USD 1 Quarter
Additions to long-term debt, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt $12.10M USD 1 Quarter
Additions to long-term debt, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Repayments of long-term debt, including current portion RepaymentsOfLongTermDebt $6.40M USD 1 Quarter
Repayments of long-term debt, including current portion RepaymentsOfLongTermDebt $10.00M USD 1 Quarter
Payments for purchase of treasury stock PaymentsForRepurchaseOfCommonStock $31.00M USD 1 Quarter
Payments for purchase of treasury stock PaymentsForRepurchaseOfCommonStock $55.20M USD 1 Quarter
Payments for stock-based compensation items ProceedsFromPaymentsForOtherFinancingActivities $-14.40M USD 1 Quarter
Payments for stock-based compensation items ProceedsFromPaymentsForOtherFinancingActivities $-1.30M USD 1 Quarter
Dividends paid to BorgWarner stockholders PaymentsOfDividendsCommonStock $29.70M USD 1 Quarter
Dividends paid to BorgWarner stockholders PaymentsOfDividendsCommonStock $35.60M USD 1 Quarter
Dividends paid to noncontrolling stockholders PaymentsOfDividendsMinorityInterest $21.80M USD 1 Quarter
Dividends paid to noncontrolling stockholders PaymentsOfDividendsMinorityInterest $17.80M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-15.80M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-3.50M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-5.90M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $2.90M USD 1 Quarter
Net decrease in cash CashAndCashEquivalentsPeriodIncreaseDecrease $-135.60M USD 1 Quarter
Net decrease in cash CashAndCashEquivalentsPeriodIncreaseDecrease $-85.30M USD 1 Quarter
Cash at beginning of year CashAndCashEquivalentsAtCarryingValue $443.70M USD Point-in-time
Cash at beginning of year CashAndCashEquivalentsAtCarryingValue $358.40M USD Point-in-time
Cash at beginning of year CashAndCashEquivalentsAtCarryingValue $545.30M USD Point-in-time
Cash at beginning of year CashAndCashEquivalentsAtCarryingValue $409.70M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $443.70M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $358.40M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $545.30M USD Point-in-time
Cash at end of period CashAndCashEquivalentsAtCarryingValue $409.70M USD Point-in-time
Interest InterestPaidNet $31.90M USD 1 Quarter
Interest InterestPaidNet $30.60M USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $80.20M USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $78.50M USD 1 Quarter
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $225.10M USD 1 Quarter
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $189.20M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $65.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $49.00M USD 1 Quarter
Hedge instruments OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $-3.30M USD 1 Quarter
Hedge instruments OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $-1.20M USD 1 Quarter
Defined benefit postretirement plans OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-100.00K USD 1 Quarter
Defined benefit postretirement plans OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $2.00M USD 1 Quarter
Total other comprehensive income attributable to BorgWarner Inc. OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $47.90M USD 1 Quarter
Total other comprehensive income attributable to BorgWarner Inc. OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $59.70M USD 1 Quarter
Comprehensive income attributable to BorgWarner Inc. ComprehensiveIncomeNetOfTax $237.10M USD 1 Quarter
Comprehensive income attributable to BorgWarner Inc. ComprehensiveIncomeNetOfTax $284.80M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $10.40M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $11.70M USD 1 Quarter
Other comprehensive income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-4.00M USD 1 Quarter
Other comprehensive income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-2.40M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $251.50M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $298.90M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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