XML 16 R3.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Net sales $ 2,214.2 $ 1,884.0 $ 6,812.0 $ 5,900.1
Cost of sales 1,743.1 1,485.8 5,379.9 4,643.9
Gross profit 471.1 398.2 1,432.1 1,256.2
Selling, general and administrative expenses 209.7 148.0 600.4 483.6
Other expense, net 111.1 13.1 147.8 33.4
Operating income 150.3 237.1 683.9 739.2
Equity in affiliates’ earnings, net of tax (12.4) (8.7) (31.6) (28.3)
Interest income (1.6) (2.0) (4.7) (5.3)
Interest expense and finance charges 22.4 15.0 65.1 42.6
Earnings before income taxes and noncontrolling interest 141.9 232.8 655.1 730.2
Provision for income taxes 48.8 66.9 213.4 219.2
Net earnings 93.1 165.9 441.7 511.0
Net earnings attributable to the noncontrolling interest, net of tax 9.8 8.5 29.9 26.6
Net earnings attributable to BorgWarner Inc. $ 83.3 $ 157.4 $ 411.8 $ 484.4
Earnings per share — basic $ 0.39 $ 0.70 $ 1.91 $ 2.15
Earnings per share — diluted $ 0.39 $ 0.70 $ 1.90 $ 2.14
Weighted average shares outstanding (thousands):        
Basic 212,872 224,837 215,332 225,329
Diluted 213,766 225,991 216,189 226,565
Dividends declared per share $ 0.13 $ 0.13 $ 0.39 $ 0.39