BALANCE SHEET INFORMATION

Detailed balance sheet data is as follows:



	December 31,
(millions of dollars)	2015			2014
Receivables, net:
Customers	$	1,423.6		$	1,200.6
Other	243.3			245.2
Gross receivables	1,666.9			1,445.8
Bad debt allowance(a)	(1.9		)	(2.3		)
Total receivables, net	$	1,665.0		$	1,443.5
Inventories, net:
Raw material and supplies	$	412.9		$	319.5
Work in progress	102.5			89.0
Finished goods	222.4			115.5
FIFO inventories	737.8			524.0
LIFO reserve	(14.2		)	(18.3		)
Total inventories, net	$	723.6		$	505.7
Prepayments and other current assets:
Prepaid tooling	$	98.5		$	72.5
Restricted cash	12.3			—
Prepaid taxes	11.9			17.2
Other	46.3			40.5
Total prepayments and other current assets	$	169.0		$	130.2
Property, plant and equipment, net:
Land and land use rights	$	118.2		$	107.0
Buildings	661.7			677.8
Machinery and equipment	2,154.3			1,940.3
Capital leases	7.2			8.4
Construction in progress	386.4			310.4
Property, plant and equipment, gross	3,327.8			3,043.9
Accumulated depreciation	(1,036.8		)	(1,076.8		)
Property, plant & equipment, net, excluding tooling	2,291.0			1,967.1
Tooling, net of amortization	157.1			126.8
Property, plant & equipment, net	$	2,448.1		$	2,093.9
Investments and other long-term receivables:
Investment in equity affiliates	$	200.1		$	184.2
Other long-term receivables	260.8			219.1
Total investments and other long-term receivables	$	460.9		$	403.3
Other non-current assets:
Deferred income taxes	$	213.5		$	180.5
Product liability insurance asset	108.5			111.8
Other	173.7			110.9
Total other non-current assets	$	495.7		$	403.2



	December 31,
(millions of dollars)	2015		2014
Accounts payable and accrued expenses:
Trade payables	$	1,225.6	$	979.2
Payroll and employee related	201.1		199.5
Product warranties	70.6		91.9
Customer related	55.7		58.1
Product liability	47.7		47.4
Unrecognized tax benefits	45.5		—
Severance	29.4		43.9
Interest	20.4		12.0
Retirement related	20.1		20.0
Dividends payable to noncontrolling shareholders	20.0		15.9
Derivatives	19.1		2.4
Other	111.2		60.0
Total accounts payable and accrued expenses	$	1,866.4	$	1,530.3
Other non-current liabilities:
Deferred income taxes	$	120.1	$	46.8
Product liability	60.8		64.4
Product warranties	37.3		40.1
Deferred revenue	36.6		37.8
Other	160.4		136.9
Total other non-current liabilities	$	415.2	$	326.0



(a) Bad debt allowance:	2015			2014			2013
Beginning balance, January 1	$	(2.3	)	$	(2.1	)	$	(2.1	)
Provision	(0.5		)	(0.6		)	(0.3		)
Write-offs	0.7			0.3			0.4
Translation adjustment and other	0.2			0.1			(0.1		)
Ending balance, December 31	$	(1.9	)	$	(2.3	)	$	(2.1	)

As of December 31, 2015 and December 31, 2014, accounts payable of $76.9 million and $58.4 million, respectively, were related to property, plant and equipment purchases.

Interest costs capitalized for the years ended December 31, 2015, 2014 and 2013 were $16.5 million, $13.5 million and $11.9 million respectively.

NSK-Warner KK ("NSK-Warner")

The Company has a 50% interest in NSK-Warner, a joint venture based in Japan that manufactures automatic transmission components. The Company's share of the earnings reported by NSK-Warner is accounted for using the equity method of accounting. NSK-Warner is the joint venture partner with a 40% interest in the Drivetrain Segment's South Korean subsidiary, BorgWarner Transmission Systems Korea Ltd. Dividends from NSK-Warner were $18.0 million, $45.1 million and $31.0 million in calendar years ended December 31, 2015, 2014 and 2013, respectively.

NSK-Warner has a fiscal year-end of March 31. The Company's equity in the earnings of NSK-Warner consists of the 12 months ended November 30. Following is summarized financial data for NSK-Warner, translated using the ending or periodic rates, as of and for the years ended November 30, 2015, 2014 and 2013 (unaudited):



	November 30,
(millions of dollars)	2015		2014
Balance sheets:
Cash and securities	$	74.9	$	65.6
Current assets, including cash and securities	231.9		237.2
Non-current assets	167.5		144.3
Current liabilities	119.1		128.1
Non-current liabilities	39.3		37.7
Total equity	241.0		215.7

	Year Ended November 30,
(millions of dollars)	2015		2014		2013
Statements of operations:
Net sales	$	519.0	$	546.4	$	604.0
Gross profit	118.6		124.5		126.6
Net earnings	73.3		80.3		68.3

NSK-Warner had no debt outstanding as of November 30, 2015 and 2014. Purchases by the Company from NSK-Warner were $23.0 million, $21.3 million and $22.8 million for the years ended December 31, 2015, 2014 and 2013, respectively.