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10-Q Filing

BORGWARNER INC CIK: 908255 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0000908255-20-000050
Period End Date 20200331
Filing Date 20200506
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance a2020033110q_htm.xml
Filing Contents
Balance Sheet 58 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $901.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $832.00M USD Point-in-time
Receivables, net ReceivablesNetCurrent $1.74B USD Point-in-time
Receivables, net ReceivablesNetCurrent $1.92B USD Point-in-time
Inventories, net InventoryNet $847.00M USD Point-in-time
Inventories, net InventoryNet $807.00M USD Point-in-time
Prepayments and other current assets PrepaidExpenseAndOtherAssetsCurrent $276.00M USD Point-in-time
Prepayments and other current assets PrepaidExpenseAndOtherAssetsCurrent $258.00M USD Point-in-time
Total current assets AssetsCurrent $3.84B USD Point-in-time
Total current assets AssetsCurrent $3.74B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.92B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $2.84B USD Point-in-time
Investments and other long-term receivables LongTermInvestments $318.00M USD Point-in-time
Investments and other long-term receivables LongTermInvestments $315.00M USD Point-in-time
Goodwill Goodwill $1.82B USD Point-in-time
Goodwill Goodwill $1.84B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $402.00M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $383.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $406.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $379.00M USD Point-in-time
Total assets Assets $9.50B USD Point-in-time
Total assets Assets $9.70B USD Point-in-time
Notes payable and other short-term debt NotesPayableCurrent $286.00M USD Point-in-time
Notes payable and other short-term debt NotesPayableCurrent $286.00M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $1.98B USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $1.79B USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $45.00M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $66.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.33B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.12B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.67B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.66B USD Point-in-time
Retirement-related liabilities PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $306.00M USD Point-in-time
Retirement-related liabilities PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $302.00M USD Point-in-time
Other OtherLiabilitiesNoncurrent $548.00M USD Point-in-time
Other OtherLiabilitiesNoncurrent $549.00M USD Point-in-time
Total other non-current liabilities LiabilitiesOtherThanLongtermDebtNoncurrent $855.00M USD Point-in-time
Total other non-current liabilities LiabilitiesOtherThanLongtermDebtNoncurrent $850.00M 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 $1.15B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapital $1.11B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $5.94B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $6.04B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-674.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-675.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-801.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-727.00M USD Point-in-time
Common stock held in treasury, at cost TreasuryStockValue $1.66B USD Point-in-time
Common stock held in treasury, at cost TreasuryStockValue $1.62B USD Point-in-time
Total BorgWarner Inc. stockholders equity StockholdersEquity $4.72B USD Point-in-time
Total BorgWarner Inc. stockholders equity StockholdersEquity $4.71B USD Point-in-time
Noncontrolling interest MinorityInterest $140.00M USD Point-in-time
Noncontrolling interest MinorityInterest $138.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.86B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.84B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $9.70B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $9.50B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales Revenues $2.57B USD 1 Quarter
Net sales Revenues $2.28B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $2.05B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.83B USD 1 Quarter
Gross profit GrossProfit $519.00M USD 1 Quarter
Gross profit GrossProfit $447.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $226.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $213.00M USD 1 Quarter
Other expense, net OtherOperatingIncomeExpenseNet $-29.00M USD 1 Quarter
Other expense, net OtherOperatingIncomeExpenseNet $-45.00M USD 1 Quarter
Operating income OperatingIncomeLoss $189.00M USD 1 Quarter
Operating income OperatingIncomeLoss $264.00M USD 1 Quarter
Equity in affiliates earnings, net of tax IncomeLossFromEquityMethodInvestments $9.00M USD 1 Quarter
Equity in affiliates earnings, net of tax IncomeLossFromEquityMethodInvestments $5.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $3.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $2.00M USD 1 Quarter
Interest expense InterestAndDebtExpense $12.00M USD 1 Quarter
Interest expense InterestAndDebtExpense $14.00M USD 1 Quarter
Other postretirement income NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent - USD 1 Quarter
Other postretirement income NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent $-2.00M USD 1 Quarter
Earnings before income taxes and noncontrolling interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $186.00M USD 1 Quarter
Earnings before income taxes and noncontrolling interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $262.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $49.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $91.00M USD 1 Quarter
Net earnings ProfitLoss $171.00M USD 1 Quarter
Net earnings ProfitLoss $137.00M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $8.00M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $11.00M USD 1 Quarter
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $129.00M USD 1 Quarter
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $160.00M USD 1 Quarter
Earnings per share basic EarningsPerShareBasic $0.63 USD 1 Quarter
Earnings per share basic EarningsPerShareBasic $0.77 USD 1 Quarter
Earnings per share diluted EarningsPerShareDiluted $0.77 USD 1 Quarter
Earnings per share diluted EarningsPerShareDiluted $0.63 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 206.50M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 205.70M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 207.10M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 206.20M shares 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $171.00M USD 1 Quarter
Net earnings ProfitLoss $137.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $112.00M 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 $10.00M USD 1 Quarter
Asset Impairment Charges AssetImpairmentCharges $9.00M USD 1 Quarter
Asset Impairment Charges AssetImpairmentCharges - USD 1 Quarter
Restructuring expense, net of cash paid RestructuringCosts $7.00M USD 1 Quarter
Restructuring expense, net of cash paid RestructuringCosts $2.00M USD 1 Quarter
Deferred income tax provision (benefit) DeferredIncomeTaxExpenseBenefit $-5.00M USD 1 Quarter
Deferred income tax provision (benefit) 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 $-4.00M 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 $261.00M USD 1 Quarter
Net earnings adjusted for non-cash charges to operations AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $319.00M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $95.00M USD 1 Quarter
Receivables IncreaseDecreaseInReceivables $-152.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $31.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $58.00M USD 1 Quarter
Prepayments and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $23.00M USD 1 Quarter
Prepayments and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $8.00M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-120.00M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-96.00M USD 1 Quarter
Prepaid taxes and income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $8.00M USD 1 Quarter
Prepaid taxes and income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-12.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-2.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-4.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $40.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $263.00M USD 1 Quarter
Capital expenditures, including tooling outlays PaymentsToAcquireProductiveAssets $117.00M USD 1 Quarter
Capital expenditures, including tooling outlays PaymentsToAcquireProductiveAssets $117.00M USD 1 Quarter
Payments for business acquired PaymentsToAcquireBusinessesNetOfCashAcquired $2.00M USD 1 Quarter
Payments for business acquired PaymentsToAcquireBusinessesNetOfCashAcquired $10.00M USD 1 Quarter
Payments for (Proceeds from) Hedge, Investing Activities PaymentsForProceedsFromHedgeInvestingActivities $-1.00M USD 1 Quarter
Payments for (Proceeds from) Hedge, Investing Activities PaymentsForProceedsFromHedgeInvestingActivities - USD 1 Quarter
Proceeds from sale of business, net of cash divested ProceedsFromDivestitureOfBusinessesNetOfCashDivested - USD 1 Quarter
Proceeds from sale of business, net of cash divested ProceedsFromDivestitureOfBusinessesNetOfCashDivested $23.00M USD 1 Quarter
Payments for investments in equity securities PaymentsToAcquireInvestments $1.00M USD 1 Quarter
Payments for investments in equity securities PaymentsToAcquireInvestments - USD 1 Quarter
Proceeds from asset disposals and other, net PaymentsForProceedsFromOtherInvestingActivities $2.00M USD 1 Quarter
Proceeds from asset disposals and other, net PaymentsForProceedsFromOtherInvestingActivities $-1.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-120.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-104.00M USD 1 Quarter
Additions to long-term debt, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt $11.00M USD 1 Quarter
Additions to long-term debt, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt $13.00M USD 1 Quarter
Repayments of debt, including current portion RepaymentsOfLongTermDebt $14.00M USD 1 Quarter
Repayments of debt, including current portion RepaymentsOfLongTermDebt $26.00M USD 1 Quarter
Payments for purchase of treasury stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Payments for purchase of treasury stock PaymentsForRepurchaseOfCommonStock $67.00M USD 1 Quarter
Payments for stock-based compensation items ProceedsFromPaymentsForOtherFinancingActivities $-12.00M USD 1 Quarter
Payments for stock-based compensation items ProceedsFromPaymentsForOtherFinancingActivities $-14.00M USD 1 Quarter
Dividends paid to BorgWarner stockholders PaymentsOfDividendsCommonStock $35.00M 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 $14.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-153.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-62.00M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-5.00M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-12.00M USD 1 Quarter
Net increase (decrease) in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $69.00M USD 1 Quarter
Net increase (decrease) in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-222.00M USD 1 Quarter
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 $832.00M USD Point-in-time
Cash and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $901.00M 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 $832.00M USD Point-in-time
Cash and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $901.00M USD Point-in-time
Interest InterestPaidNet $26.00M USD 1 Quarter
Interest InterestPaidNet $29.00M USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $68.00M USD 1 Quarter
Income taxes, net of refunds IncomeTaxesPaidNet $43.00M USD 1 Quarter
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $129.00M USD 1 Quarter
Net earnings attributable to BorgWarner Inc. NetIncomeLoss $160.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-9.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-74.00M USD 1 Quarter
Hedge instruments OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent - USD 1 Quarter
Hedge instruments OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent $-2.00M 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 attributable to BorgWarner Inc. OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-74.00M USD 1 Quarter
Total other comprehensive loss attributable to BorgWarner Inc. OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-1.00M USD 1 Quarter
Comprehensive income attributable to BorgWarner Inc. ComprehensiveIncomeNetOfTax $55.00M USD 1 Quarter
Comprehensive income attributable to BorgWarner Inc. ComprehensiveIncomeNetOfTax $159.00M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $8.00M USD 1 Quarter
Net earnings attributable to the noncontrolling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $11.00M USD 1 Quarter
Other comprehensive (loss) income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-1.00M USD 1 Quarter
Other comprehensive (loss) income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $3.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $171.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $60.00M USD 1 Quarter

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

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