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BorgWarner Inc. and Consolidated Subsidiaries Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
OPERATING      
Net earnings $ 570.6 $ 396.2 $ 36.4
Adjustments to reconcile net earnings to net cash flows from operations:      
Depreciation and tooling amortization 252.2 224.5 234.6
Amortization of intangible assets and other 30.8 28.4 26.3
Loss on disposals 21.5 0 0
Environmental litigation settlement, net of cash paid 0 14.0 0
Restructuring expense, net of cash paid 0 0 38.4
Stock based compensation expense 21.8 22.8 22.0
Deferred income tax benefit (1.1) (52.2) (57.7)
Bond amortization 20.3 18.3 12.7
BERU - Eichenauer investment gain 0 (8.0) 0
Equity in affiliates' earnings, net of dividends received, and other (7.8) 1.7 21.3
Net earnings adjusted for non-cash charges to operations 908.3 645.7 334.0
Changes in assets and liabilities:      
Receivables (150.6) (239.0) (106.6)
Inventories (38.6) (79.0) 143.0
Prepayments and other current assets (2.4) 0.6 1.2
Accounts payable and accrued expenses 53.0 169.4 98.9
Income taxes payable (15.4) 37.3 (6.9)
Other non-current assets and liabilities (46.1) 3.9 (112.6)
Net cash provided by operating activities 708.2 538.9 351.0
INVESTING      
Capital expenditures, including tooling outlays (393.7) (276.6) (172.0)
Net proceeds from asset disposals 7.9 6.8 23.1
Payments for businesses acquired, net of cash acquired (203.7) (164.7) (7.5)
Net proceeds from sale of business 25.0 5.0 1.6
Net cash used in investing activities (564.5) (429.5) (154.8)
FINANCING      
Net increase (decrease) in notes payable 67.6 (29.8) (114.7)
Additions to long-term debt, net of debt issuance costs 364.6 372.2 381.6
Repayments of long-term debt, including current portion (309.1) (116.1) (164.5)
Payment for purchase of bond hedge 0 0 (56.4)
Proceeds from warrant issuance 0 0 31.2
Reduction in account receivable securitization facility 0 0 (50.0)
Proceeds from accounts receivable securitization 0 30.0 50.0
Payment for purchase of treasury stock (357.6) (325.7) 0
Proceeds from interest rate swap termination 0 0 30.0
Proceeds from stock options exercised, net of tax 53.0 67.1 8.7
Taxes paid on restricted stock award vestings (14.4) 0 0
Dividends paid to BorgWarner stockholders 0 0 (13.8)
Purchase of noncontrolling interest (29.4) 0 (48.5)
Capital contribution from noncontrolling interest 19.5 0 0
Dividends paid to noncontrolling stockholders (13.9) (10.9) (8.8)
Net cash (used in) provided by financing activities (219.7) (13.2) 44.8
Effect of exchange rate changes on cash (14.3) (3.7) 13.0
Net (decrease) increase in cash (90.3) 92.5 254.0
Cash at beginning of year 449.9 357.4 103.4
Cash at end of period 359.6 449.9 357.4
Supplemental cash flow information      
Net cash paid during the year for interest 68.5 53.4 68.8
Net cash paid during the year for income taxes 175.5 83.1 60.3
Noncash investing and financing items      
Liabilities assumed from business acquired 5.3 0 0
Debt assumed from business acquired 5.9 0 0
Stock performance plans 6.8 3.8 6.0
Restricted common stock, issued to employees and nonemployees $ 15.1 $ 18.9 $ 14.8