10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0000908255-23-000027 |
| Period End Date | 20230331 |
| Filing Date | 20230504 |
| Fiscal Year | 2023 |
| Fiscal Period | Q1 |
| XBRL Instance | bwa-20230331_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
60 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash, cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.50B | USD | Point-in-time |
| Cash, cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.34B | USD | Point-in-time |
| Cash, cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.84B | USD | Point-in-time |
| Cash, cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$950.00M | USD | Point-in-time |
| Receivables, net |
ReceivablesNetCurrent
|
$3.57B | USD | Point-in-time |
| Receivables, net |
ReceivablesNetCurrent
|
$3.32B | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$1.69B | USD | Point-in-time |
| Inventories, net |
InventoryNet
|
$1.80B | USD | Point-in-time |
| Prepayments and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$291.00M | USD | Point-in-time |
| Prepayments and other current assets |
PrepaidExpenseAndOtherAssetsCurrent
|
$269.00M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$6.61B | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$6.62B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
|
$4.37B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
|
$4.46B | USD | Point-in-time |
| Investments and long-term receivables |
LongTermInvestmentsAndReceivablesNet
|
$896.00M | USD | Point-in-time |
| Investments and long-term receivables |
LongTermInvestmentsAndReceivablesNet
|
$895.00M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$3.40B | USD | Point-in-time |
| Goodwill |
Goodwill
|
$3.42B | USD | Point-in-time |
| Other intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$1.03B | USD | Point-in-time |
| Other intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$1.05B | USD | Point-in-time |
| Other non-current assets |
OtherAssetsNoncurrent
|
$699.00M | USD | Point-in-time |
| Other non-current assets |
OtherAssetsNoncurrent
|
$668.00M | USD | Point-in-time |
| Total assets |
Assets
|
$16.99B | USD | Point-in-time |
| Total assets |
Assets
|
$17.12B | USD | Point-in-time |
| Notes payable and other short-term debt |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$62.00M | USD | Point-in-time |
| Notes payable and other short-term debt |
LongTermDebtAndCapitalLeaseObligationsCurrent
|
$62.00M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrentAndNoncurrent
|
$2.68B | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrentAndNoncurrent
|
$2.68B | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$1.41B | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$1.49B | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$4.24B | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$4.15B | USD | Point-in-time |
| Long-term debt |
LongTermDebtAndCapitalLeaseObligations
|
$4.17B | USD | Point-in-time |
| Long-term debt |
LongTermDebtAndCapitalLeaseObligations
|
$4.17B | USD | Point-in-time |
| Retirement-related liabilities |
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
$223.00M | USD | Point-in-time |
| Retirement-related liabilities |
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
$223.00M | USD | Point-in-time |
| Other non-current liabilities |
OtherLiabilitiesNoncurrent
|
$892.00M | USD | Point-in-time |
| Other non-current liabilities |
OtherLiabilitiesNoncurrent
|
$861.00M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$9.49B | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$9.44B | USD | Point-in-time |
| Commitments and contingencies |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Commitments and contingencies |
CommitmentsAndContingencies
|
- | 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
|
$2.66B | USD | Point-in-time |
| Capital in excess of par value |
AdditionalPaidInCapital
|
$2.67B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$7.45B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$7.63B | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-824.00M | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-876.00M | USD | Point-in-time |
| Common stock held in treasury, at cost |
TreasuryStockCommonValue
|
$2.03B | USD | Point-in-time |
| Common stock held in treasury, at cost |
TreasuryStockCommonValue
|
$2.03B | USD | Point-in-time |
| Total BorgWarner Inc. stockholders equity |
StockholdersEquity
|
$7.44B | USD | Point-in-time |
| Total BorgWarner Inc. stockholders equity |
StockholdersEquity
|
$7.22B | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
$284.00M | USD | Point-in-time |
| Noncontrolling interest |
MinorityInterest
|
$238.00M | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$7.51B | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$7.68B | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$17.12B | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$16.99B | USD | Point-in-time |
Income Statement
40 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net sales |
RevenueFromContractWithCustomerExcludingAssessedTax
|
$3.87B | USD | 1 Quarter |
| Net sales |
RevenueFromContractWithCustomerExcludingAssessedTax
|
$4.18B | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$3.43B | USD | 1 Quarter |
| Cost of sales |
CostOfGoodsAndServicesSold
|
$3.12B | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$750.00M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$750.00M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$384.00M | USD | 1 Quarter |
| Selling, general and administrative expenses |
SellingGeneralAndAdministrativeExpense
|
$388.00M | USD | 1 Quarter |
| Restructuring expense |
RestructuringCharges
|
$7.00M | USD | 1 Quarter |
| Restructuring expense |
RestructuringCharges
|
$15.00M | USD | 1 Quarter |
| Other operating expense (income), net |
OtherOperatingIncomeExpenseNet
|
$-19.00M | USD | 1 Quarter |
| Other operating expense (income), net |
OtherOperatingIncomeExpenseNet
|
$5.00M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$340.00M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$352.00M | USD | 1 Quarter |
| Equity in affiliates earnings, net of tax |
IncomeLossFromEquityMethodInvestments
|
$8.00M | USD | 1 Quarter |
| Equity in affiliates earnings, net of tax |
IncomeLossFromEquityMethodInvestments
|
$4.00M | USD | 1 Quarter |
| Unrealized loss on debt and equity securities |
UnrealizedGainLossOnInvestments
|
$-39.00M | USD | 1 Quarter |
| Unrealized loss on debt and equity securities |
UnrealizedGainLossOnInvestments
|
$-15.00M | USD | 1 Quarter |
| Interest expense, net |
InterestAndDebtExpense
|
$15.00M | USD | 1 Quarter |
| Interest expense, net |
InterestAndDebtExpense
|
$10.00M | USD | 1 Quarter |
| Other postretirement expense (income) |
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
|
$-9.00M | USD | 1 Quarter |
| Other postretirement expense (income) |
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
|
$2.00M | USD | 1 Quarter |
| Earnings before income taxes and noncontrolling interest |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$315.00M | USD | 1 Quarter |
| Earnings before income taxes and noncontrolling interest |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$317.00M | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$87.00M | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$91.00M | USD | 1 Quarter |
| Net earnings |
ProfitLoss
|
$230.00M | USD | 1 Quarter |
| Net earnings |
ProfitLoss
|
$224.00M | USD | 1 Quarter |
| Net earnings attributable to noncontrolling interest, net of tax |
NetIncomeLossAttributableToNoncontrollingInterest
|
$24.00M | USD | 1 Quarter |
| Net earnings attributable to noncontrolling interest, net of tax |
NetIncomeLossAttributableToNoncontrollingInterest
|
$13.00M | USD | 1 Quarter |
| Net earnings attributable to BorgWarner Inc. |
NetIncomeLoss
|
$200.00M | USD | 1 Quarter |
| Net earnings attributable to BorgWarner Inc. |
NetIncomeLoss
|
$217.00M | USD | 1 Quarter |
| Earnings per share attributable to BorgWarner Inc. basic (in dollar per share) |
EarningsPerShareBasic
|
$0.93 | USD | 1 Quarter |
| Earnings per share attributable to BorgWarner Inc. basic (in dollar per share) |
EarningsPerShareBasic
|
$0.84 | USD | 1 Quarter |
| Earnings per share attributable to BorgWarner Inc. diluted (in dollar per share) |
EarningsPerShareDiluted
|
$0.84 | USD | 1 Quarter |
| Earnings per share attributable to BorgWarner Inc. diluted (in dollar per share) |
EarningsPerShareDiluted
|
$0.93 | USD | 1 Quarter |
| Basic (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
238.20M | shares | 1 Quarter |
| Basic (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
232.80M | shares | 1 Quarter |
| Diluted (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
239.00M | shares | 1 Quarter |
| Diluted (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
234.40M | shares | 1 Quarter |
Cash Flow Statement
44 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net cash (used in) provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$116.00M | USD | 1 Quarter |
| Net cash (used in) provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-12.00M | USD | 1 Quarter |
| Capital expenditures, including tooling outlays |
PaymentsToAcquireProductiveAssets
|
$278.00M | USD | 1 Quarter |
| Capital expenditures, including tooling outlays |
PaymentsToAcquireProductiveAssets
|
$177.00M | USD | 1 Quarter |
| Payments for businesses acquired, net of cash acquired |
PaymentsToAcquireBusinessesNetOfCashAcquired
|
$19.00M | USD | 1 Quarter |
| Payments for businesses acquired, net of cash acquired |
PaymentsToAcquireBusinessesNetOfCashAcquired
|
$157.00M | USD | 1 Quarter |
| Proceeds from settlement of net investment hedges, net |
ProceedsFromHedgeInvestingActivities
|
$13.00M | USD | 1 Quarter |
| Proceeds from settlement of net investment hedges, net |
ProceedsFromHedgeInvestingActivities
|
$12.00M | USD | 1 Quarter |
| Proceeds from investments in debt and equity securities, net |
PaymentsForProceedsFromInvestments
|
$-30.00M | USD | 1 Quarter |
| Proceeds from investments in debt and equity securities, net |
PaymentsForProceedsFromInvestments
|
- | USD | 1 Quarter |
| Proceeds from the sale of business, net |
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
|
- | USD | 1 Quarter |
| Proceeds from the sale of business, net |
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
|
$25.00M | USD | 1 Quarter |
| Proceeds from asset disposals and other, net |
ProceedsFromSaleOfProductiveAssets
|
$13.00M | USD | 1 Quarter |
| Proceeds from asset disposals and other, net |
ProceedsFromSaleOfProductiveAssets
|
$2.00M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-282.00M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-254.00M | USD | 1 Quarter |
| Additions to debt |
ProceedsFromIssuanceOfLongTermDebt
|
$1.00M | USD | 1 Quarter |
| Additions to debt |
ProceedsFromIssuanceOfLongTermDebt
|
- | USD | 1 Quarter |
| Repayments of debt, including current portion |
RepaymentsOfLongTermDebt
|
$2.00M | USD | 1 Quarter |
| Repayments of debt, including current portion |
RepaymentsOfLongTermDebt
|
$2.00M | USD | 1 Quarter |
| Payments for purchase of treasury stock |
PaymentsForRepurchaseOfCommonStock
|
$40.00M | USD | 1 Quarter |
| Payments for purchase of treasury stock |
PaymentsForRepurchaseOfCommonStock
|
- | USD | 1 Quarter |
| Payments for stock-based compensation items |
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
$17.00M | USD | 1 Quarter |
| Payments for stock-based compensation items |
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
$25.00M | USD | 1 Quarter |
| Purchase of noncontrolling interest |
PaymentsToMinorityShareholders
|
- | USD | 1 Quarter |
| Purchase of noncontrolling interest |
PaymentsToMinorityShareholders
|
$59.00M | USD | 1 Quarter |
| Dividends paid to BorgWarner stockholders |
PaymentsOfDividendsCommonStock
|
$39.00M | USD | 1 Quarter |
| Dividends paid to BorgWarner stockholders |
PaymentsOfDividendsCommonStock
|
$41.00M | USD | 1 Quarter |
| Dividends paid to noncontrolling stockholders |
PaymentsOfDividendsMinorityInterest
|
$25.00M | USD | 1 Quarter |
| Dividends paid to noncontrolling stockholders |
PaymentsOfDividendsMinorityInterest
|
$36.00M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-195.00M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-90.00M | USD | 1 Quarter |
| Effect of exchange rate changes on cash |
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$-4.00M | USD | 1 Quarter |
| Effect of exchange rate changes on cash |
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$-7.00M | USD | 1 Quarter |
| Net decrease in cash, cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-388.00M | USD | 1 Quarter |
| Net decrease in cash, cash equivalents and restricted cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$-340.00M | USD | 1 Quarter |
| Cash, cash equivalents and restricted cash at beginning of year |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.50B | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at beginning of year |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.34B | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at beginning of year |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.84B | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at beginning of year |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$950.00M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.50B | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.34B | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.84B | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$950.00M | USD | Point-in-time |
Comprehensive Income
18 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net earnings attributable to BorgWarner Inc. |
NetIncomeLoss
|
$200.00M | USD | 1 Quarter |
| Net earnings attributable to BorgWarner Inc. |
NetIncomeLoss
|
$217.00M | USD | 1 Quarter |
| Foreign currency translation adjustments |
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
$39.00M | USD | 1 Quarter |
| Foreign currency translation adjustments |
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
$-18.00M | USD | 1 Quarter |
| Hedge instruments |
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
|
- | USD | 1 Quarter |
| Hedge instruments |
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
|
$14.00M | USD | 1 Quarter |
| Defined benefit postretirement plans |
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
|
$-5.00M | USD | 1 Quarter |
| Defined benefit postretirement plans |
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
|
$1.00M | USD | 1 Quarter |
| Total other comprehensive income (loss) attributable to BorgWarner Inc. |
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
$-13.00M | USD | 1 Quarter |
| Total other comprehensive income (loss) attributable to BorgWarner Inc. |
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
$52.00M | USD | 1 Quarter |
| Comprehensive income attributable to BorgWarner Inc. |
ComprehensiveIncomeNetOfTax
|
$187.00M | USD | 1 Quarter |
| Comprehensive income attributable to BorgWarner Inc. |
ComprehensiveIncomeNetOfTax
|
$269.00M | USD | 1 Quarter |
| Net earnings attributable to noncontrolling interest, net of tax |
NetIncomeLossAttributableToNoncontrollingInterest
|
$24.00M | USD | 1 Quarter |
| Net earnings attributable to noncontrolling interest, net of tax |
NetIncomeLossAttributableToNoncontrollingInterest
|
$13.00M | USD | 1 Quarter |
| Other comprehensive loss attributable to noncontrolling interest |
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
$-1.00M | USD | 1 Quarter |
| Other comprehensive loss attributable to noncontrolling interest |
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
$-1.00M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$281.00M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$210.00M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.