XML 54 R3.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Income Statement [Abstract]    
Net sales $ 1,984.2us-gaap_SalesRevenueGoodsNet $ 2,084.1us-gaap_SalesRevenueGoodsNet
Cost of sales 1,555.2us-gaap_CostOfGoodsSold 1,638.3us-gaap_CostOfGoodsSold
Gross profit 429.0us-gaap_GrossProfit 445.8us-gaap_GrossProfit
Selling, general and administrative expenses 168.2us-gaap_SellingGeneralAndAdministrativeExpense 173.8us-gaap_SellingGeneralAndAdministrativeExpense
Other expense, net 1.2us-gaap_OtherOperatingIncomeExpenseNet 38.8us-gaap_OtherOperatingIncomeExpenseNet
Operating income 259.6us-gaap_OperatingIncomeLoss 233.2us-gaap_OperatingIncomeLoss
Equity in affiliates’ earnings, net of tax (8.5)us-gaap_IncomeLossFromEquityMethodInvestments (8.8)us-gaap_IncomeLossFromEquityMethodInvestments
Interest income (1.7)us-gaap_InvestmentIncomeInterest (1.5)us-gaap_InvestmentIncomeInterest
Interest expense and finance charges 10.0us-gaap_InterestAndDebtExpense 8.2us-gaap_InterestAndDebtExpense
Earnings before income taxes and noncontrolling interest 259.8us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 235.3us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Provision for income taxes 72.1us-gaap_IncomeTaxExpenseBenefit 68.1us-gaap_IncomeTaxExpenseBenefit
Net earnings 187.7us-gaap_ProfitLoss 167.2us-gaap_ProfitLoss
Net earnings attributable to the noncontrolling interest, net of tax 8.8us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 8.1us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net earnings attributable to BorgWarner Inc. $ 178.9us-gaap_NetIncomeLoss $ 159.1us-gaap_NetIncomeLoss
Earnings per share — basic $ 0.79us-gaap_EarningsPerShareBasic $ 0.70us-gaap_EarningsPerShareBasic
Earnings per share — diluted $ 0.79us-gaap_EarningsPerShareDiluted $ 0.69us-gaap_EarningsPerShareDiluted
Weighted average shares outstanding (thousands):    
Basic 225,796us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 227,430us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted 227,088us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 229,327us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Dividends declared per share $ 0.13us-gaap_CommonStockDividendsPerShareDeclared $ 0.125us-gaap_CommonStockDividendsPerShareDeclared