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BorgWarner Inc. and Consolidated Subsidiaries Consolidated Statements of Equity (USD $)
In Millions, except Share data, unless otherwise specified
Total
USD ($)
Issued common stock
USD ($)
Capital in excess of par value
USD ($)
Common stock held in treasury
USD ($)
Retained earnings
USD ($)
Accumulated other comprehensive income (loss)
USD ($)
Noncontrolling interests
USD ($)
Employee Stock Option [Member]
Common stock held in treasury
Performance Shares [Member]
Common stock held in treasury
Restricted Stock [Member]
Common stock held in treasury
Beginning Balance at Dec. 31, 2010   $ 1.2 $ 1,100.4 $ (349.5) $ 1,560.2 $ (53.7) $ 51.2      
Beginning Balance, shares at Dec. 31, 2010   240,172,412   15,539,524            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Dividends declared             (22.0)      
Stock incentive plans     38.7              
Shares outstanding under option, exercised 2,066,000 2,040,750                
Executive stock plan     6.8              
Executive stock plan, shares   208,410                
Net issuance of restricted stock     15.0              
Net issuance of restricted stock, less amortization, shares   209,838                
Purchase of treasury stock       (357.6)            
Net earnings attributable to BorgWarner Inc. 550.1       550.1          
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent (97.1)         (97.1)        
Comprehensive income (loss) attributable to the noncontrolling interest (1.3)           (1.3)      
Purchases of treasury stock, shares       (10,062,962)            
Net earnings attributable to the noncontrolling interest, net of tax 20.5           20.5      
Capital contribution from noncontrolling interest 19.5           19.5      
Adjustments to capital in excess of par value     (26.6)              
Purchase of subsidiary shares from noncontrolling interest             (2.8)      
Ending Balance at Dec. 31, 2011   1.2 1,134.3 (707.1) 2,110.3 (150.8) 65.1      
Ending Balance, shares at Dec. 31, 2011   242,631,410   25,602,486            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Dividends declared             (18.9)      
Stock incentive plans     52.0              
Shares outstanding under option, exercised 1,568,000 1,555,850                
Executive stock plan     39.3              
Executive stock plan, shares   1,076,360                
Net issuance of restricted stock     21.2              
Adjustments Related to Tax Withholding for Share-based Compensation       (18.1)            
Net issuance of restricted stock, less amortization, shares   782,698                
Shares Paid for Tax Withholding for Share Based Compensation       (482,500)            
Purchase of treasury stock       (295.9)            
Net earnings attributable to BorgWarner Inc. 500.9 [1]       500.9          
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 29.5         29.5        
Comprehensive income (loss) attributable to the noncontrolling interest 2.8           2.8      
Stock Issued During Period, Shares, Conversion of Convertible Securities 22,800,000     22,765,542            
Adjustments to additional paid in capital, equity component of convertible debt 243.5   (243.5)              
Conversion of convertible securities, value of shares issued 617.3     617.3            
Treasury stock received from bond hedge, shares (13,000,000)     (12,979,396)            
Adjustments to additional paid in capital, bond hedge 503.9   503.9              
Treasury stock received from bond hedge, value (503.9)     (503.9)            
Treasury stock issued due to settlement of warrant, shares 9,800,000     9,709,308            
Adjustments to additional paid in capital, warrant 338.5   (338.5)              
Treasury stock issue due to settlement of warrant, value       338.5            
Purchases of treasury stock, shares       (8,311,388)            
Net earnings attributable to the noncontrolling interest, net of tax 21.5           21.5      
Adjustments to capital in excess of par value     (8.0)              
Purchase of subsidiary shares from noncontrolling interest             (7.0)      
Ending Balance at Dec. 31, 2012 3,146.1 1.2 1,160.7 (569.2) 2,611.2 (121.3) 63.5      
Ending Balance, shares at Dec. 31, 2012   246,046,318   14,900,920            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Dividends declared             (20.1)      
Stock incentive plans     33.0              
Shares outstanding under option, exercised 870,000 8,200                
Executive stock plan     10.8              
Net issuance of restricted stock, less amortization, shares   367,375                
Purchase of treasury stock       (225.5)            
Stock split   1.3                
Dividends, Common Stock         (1.3)          
Dividends declared         (56.8)          
Net earnings attributable to BorgWarner Inc. 624.3       624.3          
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 107.3         107.3        
Comprehensive income (loss) attributable to the noncontrolling interest 1.7           1.7      
Treasury stock issued due to settlement of warrant, shares               861,866 644,638 148,485
Treasury Stock Reissued at Lower than Repurchase Price     (82.6)              
Treasury stock issue due to settlement of warrant, value       67.5            
Purchases of treasury stock, shares       (5,243,106)            
Net earnings attributable to the noncontrolling interest, net of tax 26.7           26.7      
Ending Balance at Dec. 31, 2013 $ 3,632.4 $ 2.5 $ 1,121.9 $ (727.2) $ 3,177.4 $ (14.0) $ 71.8      
Ending Balance, shares at Dec. 31, 2013   246,421,893   18,489,037            
[1] The Company's results were impacted by the following:•Quarter ended December 31, 2013: The Company incurred restructuring expense of $52.3 million, related to the initiation of Drivetrain segment actions designed to improve future profitability and competitiveness. The Company recorded tax benefits of $7.1 million in connection with the restructuring expense. Additionally, the Company recorded a net tax benefit of $4.4 million related to the reversal of certain state deferred tax asset valuation allowances and other tax adjustments.•Quarter ended September 30, 2013: The Company incurred a net tax benefit of $5.6 million, which was comprised of tax benefits of $3.1 million related to 2012 provision to return adjustments and $2.5 million related to the reversal of certain state deferred tax asset valuation allowances.•Quarter ended March 31, 2013: The Company incurred $11.3 million of expense related to a program termination agreement. Retirement related obligations expense of $5.9 million was primarily related to a first quarter 2013 grant of restricted stock awards to certain retiring NEOs as to which the Company waived the forfeiture provisions. The Company recorded tax benefits of $3.8 million and $2.1 million related to the program termination agreement and retirement related obligations. Additionally, the Company recorded a net tax benefit of $1.7 million, which was comprised of a $6.6 million tax benefit related to the extension of the federal research and development credit and other international tax provisions resulting from the retroactive impact of U.S. legislation enacted in January 2013, partially offset by a $4.9 million tax expense related to a comprehensive income adjustment.•Quarter ended December 31, 2012: Retirement related obligations of $17.3 million are comprised of a $5.7 million loss resulting from the settlement of a portion of the Muncie Plant's pension obligation and an $11.6 million expense associated with the retirement of certain NEOs. These obligations were partially offset by a $6.1 million tax benefit. The Company incurred tax expense of $3.9 million which included $11.1 million of U.S. tax expense to correct the income taxes payable balance, partially offset by tax benefits resulting from changes to the statutory income tax rate in certain countries and the settlement of certain tax audits. •Quarter ended September 30, 2012: The Company incurred $1.8 million of expense and $11.2 million of tax expense associated with the completion of the sale of its spark plug business. The Company also recorded restructuring expense of $27.4 million primarily associated with the disposal and future requirements of BERU's on-going business, which was partially offset by a tax benefit of $7.7 million. Additionally, the Company incurred tax expense of $6.9 million primarily resulting from the settlement of certain tax audits.•Quarter ended June 30, 2012: The Company recorded expense of $37.9 million primarily due to the write-down of prior purchase price accounting adjustments included within the disposal group as a result of signing a Master Purchase Agreement to sell the spark plug business to Federal-Mogul Corporation, which was partially offset by a tax benefit of $5.5 million resulting from the write-down. Additionally, the Company recorded tax expense of $9.0 million related to its decision to change its cash repatriation assertion for some of its foreign subsidiaries.