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10-Q Filing

BORGWARNER INC CIK: 908255 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0000908255-19-000025
Period End Date 20190331
Filing Date 20190425
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance bwa-20190331.xml
Filing Contents
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Cash CashAndCashEquivalentsAtCarryingValue $494.00M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $739.00M USD Point-in-time
Restricted cash RestrictedCash $23.00M USD Point-in-time
Restricted cash RestrictedCash - USD Point-in-time
Receivables, net ReceivablesNetCurrent $2.06B USD Point-in-time
Receivables, net ReceivablesNetCurrent $1.99B USD Point-in-time
Inventories, net InventoryNet $807.00M USD Point-in-time
Inventories, net InventoryNet $781.00M USD Point-in-time
Prepayments and other current assets PrepaidExpenseAndOtherAssetsCurrent $280.00M USD Point-in-time
Prepayments and other current assets PrepaidExpenseAndOtherAssetsCurrent $250.00M USD Point-in-time
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperation $47.00M USD Point-in-time
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperation $50.00M USD Point-in-time
Total current assets AssetsCurrent $3.72B USD Point-in-time
Total current assets AssetsCurrent $3.81B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.90B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.90B USD Point-in-time
Investments and other long-term receivables LongTermInvestments $617.00M USD Point-in-time
Investments and other long-term receivables LongTermInvestments $592.00M USD Point-in-time
Goodwill Goodwill $1.85B USD Point-in-time
Goodwill Goodwill $1.85B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $439.00M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $433.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $502.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $592.00M USD Point-in-time
Total assets Assets $10.10B USD Point-in-time
Total assets Assets $10.10B USD Point-in-time
Notes payable and other short-term debt NotesPayableCurrent $164.00M USD Point-in-time
Notes payable and other short-term debt NotesPayableCurrent $173.00M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $2.14B USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $2.06B USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $59.00M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $57.00M USD Point-in-time
Liabilities held for sale LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent $22.00M USD Point-in-time
Liabilities held for sale LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent $23.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.30B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.40B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.92B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.94B USD Point-in-time
Asbestos-related liability Asbestosrelatedliabilitynoncurrent $746.00M USD Point-in-time
Asbestos-related liability Asbestosrelatedliabilitynoncurrent $755.00M USD Point-in-time
Retirement-related liabilities PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $298.00M USD Point-in-time
Retirement-related liabilities PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $292.00M USD Point-in-time
Other OtherLiabilitiesNoncurrent $459.00M USD Point-in-time
Other OtherLiabilitiesNoncurrent $357.00M USD Point-in-time
Total other non-current liabilities LiabilitiesOtherThanLongtermDebtNoncurrent $1.50B USD Point-in-time
Total other non-current liabilities LiabilitiesOtherThanLongtermDebtNoncurrent $1.41B USD Point-in-time
Common stock CommonStockValue $3.00M USD Point-in-time
Common stock CommonStockValue $3.00M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $1.11B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $1.15B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $5.34B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $5.46B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-675.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-490.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-674.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-444.00M USD Point-in-time
Common stock held in treasury TreasuryStockValue $1.63B USD Point-in-time
Common stock held in treasury TreasuryStockValue $1.58B USD Point-in-time
Total BorgWarner Inc. stockholders equity StockholdersEquity $4.27B USD Point-in-time
Total BorgWarner Inc. stockholders equity StockholdersEquity $4.23B USD Point-in-time
Noncontrolling interest MinorityInterest $119.00M USD Point-in-time
Noncontrolling interest MinorityInterest $111.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.38B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.34B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $10.10B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $10.10B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales Revenues $2.78B USD 1 Quarter
Net sales Revenues $2.57B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $2.05B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $2.19B USD 1 Quarter
Gross profit GrossProfit $519.00M USD 1 Quarter
Gross profit GrossProfit $591.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $253.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $226.00M USD 1 Quarter
Other expense, net OtherOperatingIncomeExpenseNet $-29.00M USD 1 Quarter
Other expense, net OtherOperatingIncomeExpenseNet $-5.00M USD 1 Quarter
Operating income OperatingIncomeLoss $264.00M USD 1 Quarter
Operating income OperatingIncomeLoss $333.00M USD 1 Quarter
Equity in affiliates earnings, net of tax IncomeLossFromEquityMethodInvestments $9.00M USD 1 Quarter
Equity in affiliates earnings, net of tax IncomeLossFromEquityMethodInvestments $10.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $3.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $2.00M USD 1 Quarter
Interest expense InterestAndDebtExpense $14.00M USD 1 Quarter
Interest expense InterestAndDebtExpense $16.00M USD 1 Quarter
Other postretirement income PensionAndOtherPostretirementBenefitExpense - USD 1 Quarter
Other postretirement income PensionAndOtherPostretirementBenefitExpense $-3.00M USD 1 Quarter
Earnings before income taxes and noncontrolling interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $332.00M USD 1 Quarter
Earnings before income taxes and noncontrolling interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $262.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $95.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $91.00M USD 1 Quarter
Net earnings ProfitLoss $237.00M USD 1 Quarter
Net earnings ProfitLoss $171.00M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $11.00M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $12.00M USD 1 Quarter
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $225.00M USD 1 Quarter
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $160.00M USD 1 Quarter
Earnings per share basic EarningsPerShareBasic $0.77 USD 1 Quarter
Earnings per share basic EarningsPerShareBasic $1.07 USD 1 Quarter
Earnings per share diluted EarningsPerShareDiluted $0.77 USD 1 Quarter
Earnings per share diluted EarningsPerShareDiluted $1.07 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 206.50M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 209.50M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 207.10M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 210.80M shares 1 Quarter
Cash Flow Statement 74 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $237.00M USD 1 Quarter
Net earnings ProfitLoss $171.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $109.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $107.00M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $8.00M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $15.00M USD 1 Quarter
Restructuring expense, net of cash paid RestructuringCosts $7.00M USD 1 Quarter
Restructuring expense, net of cash paid RestructuringCosts $7.00M USD 1 Quarter
Deferred income tax (benefit) provision DeferredIncomeTaxExpenseBenefit $8.00M USD 1 Quarter
Deferred income tax (benefit) provision DeferredIncomeTaxExpenseBenefit $-2.00M USD 1 Quarter
Tax Reform Adjustments to Provision for Income Taxes TaxReformAdjustmentstoProvisionforIncomeTaxes - USD 1 Quarter
Tax Reform Adjustments to Provision for Income Taxes TaxReformAdjustmentstoProvisionforIncomeTaxes $22.00M USD 1 Quarter
Equity in affiliates earnings, net of dividends received, and other EquityInAffiliatesEarningsNetOfDividendsReceivedAndOther $-11.00M USD 1 Quarter
Equity in affiliates earnings, net of dividends received, and other EquityInAffiliatesEarningsNetOfDividendsReceivedAndOther $6.00M USD 1 Quarter
Net earnings adjusted for non-cash charges to operations AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $319.00M USD 1 Quarter
Net earnings adjusted for non-cash charges to operations AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $365.00M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $187.00M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $95.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $27.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $31.00M USD 1 Quarter
Prepayments and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $14.00M USD 1 Quarter
Prepayments and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $23.00M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-109.00M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-120.00M USD 1 Quarter
Prepaid taxes and Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-12.00M USD 1 Quarter
Prepaid taxes and Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $3.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-4.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-2.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $35.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $40.00M USD 1 Quarter
Capital expenditures, including tooling outlays PaymentsToAcquireProductiveAssets $160.00M USD 1 Quarter
Capital expenditures, including tooling outlays PaymentsToAcquireProductiveAssets $117.00M USD 1 Quarter
Payments for business acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Payments for business acquired PaymentsToAcquireBusinessesNetOfCashAcquired $10.00M USD 1 Quarter
Proceeds from sale of business ProceedsFromDivestitureOfBusinesses - USD 1 Quarter
Proceeds from sale of business ProceedsFromDivestitureOfBusinesses $23.00M USD 1 Quarter
Payments for venture capital investment PaymentsToAcquireInterestInSubsidiariesAndAffiliates $1.00M USD 1 Quarter
Payments for venture capital investment PaymentsToAcquireInterestInSubsidiariesAndAffiliates $1.00M USD 1 Quarter
Proceeds from asset disposals and other PaymentsForProceedsFromProductiveAssets - USD 1 Quarter
Proceeds from asset disposals and other PaymentsForProceedsFromProductiveAssets $-1.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-104.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-161.00M USD 1 Quarter
Net increase in notes payable ProceedsFromRepaymentsOfNotesPayable - USD 1 Quarter
Net increase in notes payable ProceedsFromRepaymentsOfNotesPayable $118.00M USD 1 Quarter
Additions to long-term debt, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt $12.00M USD 1 Quarter
Additions to long-term debt, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt $11.00M USD 1 Quarter
Repayments of long-term debt, including current portion RepaymentsOfLongTermDebt $10.00M USD 1 Quarter
Repayments of long-term debt, including current portion RepaymentsOfLongTermDebt $26.00M USD 1 Quarter
Payments for purchase of treasury stock PaymentsForRepurchaseOfCommonStock $67.00M USD 1 Quarter
Payments for purchase of treasury stock PaymentsForRepurchaseOfCommonStock $55.00M USD 1 Quarter
Payments for stock-based compensation items ProceedsFromPaymentsForOtherFinancingActivities $-14.00M USD 1 Quarter
Payments for stock-based compensation items ProceedsFromPaymentsForOtherFinancingActivities $-14.00M USD 1 Quarter
Dividends paid to BorgWarner stockholders PaymentsOfDividendsCommonStock $36.00M USD 1 Quarter
Dividends paid to BorgWarner stockholders PaymentsOfDividendsCommonStock $35.00M USD 1 Quarter
Dividends paid to noncontrolling stockholders PaymentsOfDividendsMinorityInterest $22.00M USD 1 Quarter
Dividends paid to noncontrolling stockholders PaymentsOfDividendsMinorityInterest $18.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-3.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-153.00M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-5.00M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-6.00M USD 1 Quarter
Net decrease in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-222.00M USD 1 Quarter
Net decrease in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-135.00M USD 1 Quarter
Cash and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $410.00M USD Point-in-time
Cash and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $739.00M USD Point-in-time
Cash and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $517.00M USD Point-in-time
Cash and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $545.00M USD Point-in-time
Cash and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $410.00M USD Point-in-time
Cash and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $739.00M USD Point-in-time
Cash and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $517.00M USD Point-in-time
Cash and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $545.00M USD Point-in-time
Interest InterestPaidNet $26.00M USD 1 Quarter
Interest InterestPaidNet $31.00M USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $68.00M USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $80.00M USD 1 Quarter
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $225.00M USD 1 Quarter
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $160.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $65.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-9.00M USD 1 Quarter
Hedge instruments OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent - USD 1 Quarter
Hedge instruments OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $-3.00M USD 1 Quarter
Defined benefit postretirement plans OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $-8.00M USD 1 Quarter
Defined benefit postretirement plans OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent $2.00M USD 1 Quarter
Total other comprehensive (loss) income attributable to BorgWarner Inc. OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-1.00M USD 1 Quarter
Total other comprehensive (loss) income attributable to BorgWarner Inc. OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $60.00M USD 1 Quarter
Comprehensive income attributable to BorgWarner Inc. ComprehensiveIncomeNetOfTax $159.00M USD 1 Quarter
Comprehensive income attributable to BorgWarner Inc. ComprehensiveIncomeNetOfTax $285.00M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $11.00M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $12.00M USD 1 Quarter
Other comprehensive income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-1.00M USD 1 Quarter
Other comprehensive income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-2.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $171.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $299.00M USD 1 Quarter

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

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