BALANCE SHEET INFORMATION

Detailed balance sheet data is as follows:



	December 31,
(millions of dollars)	2016			2015
Receivables, net:
Customers	$	1,448.3		$	1,423.6
Other	243.9			243.3
Gross receivables	1,692.2			1,666.9
Bad debt allowance(a)	(2.9		)	(1.9		)
Total receivables, net	$	1,689.3		$	1,665.0
Inventories, net:
Raw material and supplies	$	378.6		$	412.9
Work in progress	102.9			102.5
Finished goods	174.9			222.4
FIFO inventories	656.4			737.8
LIFO reserve	(15.2		)	(14.2		)
Total inventories, net	$	641.2		$	723.6
Prepayments and other current assets:
Prepaid tooling	$	77.5		$	98.5
Prepaid taxes	8.0			11.9
Restricted cash	—			12.3
Other	51.9			46.2
Total prepayments and other current assets	$	137.4		$	168.9
Property, plant and equipment, net:
Land and land use rights	$	111.0		$	118.2
Buildings	670.6			661.7
Machinery and equipment	2,371.2			2,154.3
Capital leases	3.9			7.2
Construction in progress	338.2			386.4
Property, plant and equipment, gross	3,494.9			3,327.8
Accumulated depreciation	(1,137.5		)	(1,036.8		)
Property, plant & equipment, net, excluding tooling	2,357.4			2,291.0
Tooling, net of amortization	144.4			157.1
Property, plant & equipment, net	$	2,501.8		$	2,448.1
Investments and other long-term receivables:
Investment in equity affiliates	$	218.9		$	200.1
Other long-term receivables	283.3			260.8
Total investments and other long-term receivables	$	502.2		$	460.9
Other non-current assets:
Deferred income taxes	$	424.0		$	213.5
Asbestos insurance asset	178.7			108.5
Other	150.7			158.0
Total other non-current assets	$	753.4		$	480.0



	December 31,
(millions of dollars)	2016		2015
Accounts payable and accrued expenses:
Trade payables	$	1,323.3	$	1,225.6
Payroll and employee related	206.4		201.1
Product warranties	63.9		70.6
Customer related	52.8		55.7
Asbestos-related liability	51.7		47.7
Interest	22.9		20.4
Retirement related	18.1		20.1
Dividends payable to noncontrolling shareholders	15.7		20.0
Unrecognized tax benefits	15.5		45.5
Insurance	7.8		—
Severance	6.4		29.4
Derivatives	1.2		19.1
Other	61.6		111.2
Total accounts payable and accrued expenses	$	1,847.3	$	1,866.4
Other non-current liabilities:
Deferred income taxes	$	54.2	$	120.1
Deferred revenue	33.5		36.6
Product warranties	31.4		37.3
Other	156.6		160.4
Total other non-current liabilities	$	275.7	$	354.4



(a) Bad debt allowance:	2016			2015			2014
Beginning balance, January 1	$	(1.9	)	$	(2.3	)	$	(2.1	)
Provision	(3.2		)	(0.5		)	(0.6		)
Write-offs	0.2			0.7			0.3
Business divestiture	2.0			—			—
Translation adjustment and other	—			0.2			0.1
Ending balance, December 31	$	(2.9	)	$	(1.9	)	$	(2.3	)

As of December 31, 2016 and December 31, 2015, accounts payable of $85.3 million and $76.9 million, respectively, were related to property, plant and equipment purchases.

Interest costs capitalized for the years ended December 31, 2016, 2015 and 2014 were $14.1 million, $16.5 million and $13.5 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 $34.3 million, $18.0 million and $45.1 million in calendar years ended December 31, 2016, 2015 and 2014, 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, 2016, 2015 and 2014 (unaudited):



			November 30,
(millions of dollars)			2016		2015
Balance sheets:
Cash and securities			$	98.6	$	74.9
Current assets, including cash and securities			256.3		231.9
Non-current assets			194.5		167.5
Current liabilities			122.6		119.1
Non-current liabilities			48.2		39.3
Total equity			280.0		241.0

	Year Ended November 30,
(millions of dollars)	2016		2015		2014
Statements of operations:
Net sales	$	601.8	$	519.0	$	546.4
Gross profit	134.1		118.6		124.5
Net earnings	71.7		73.3		80.3

NSK-Warner had no debt outstanding as of November 30, 2016 and 2015. Purchases by the Company from NSK-Warner were $23.9 million, $23.0 million and $21.3 million for the years ended December 31, 2016, 2015 and 2014, respectively.