XML 19 R5.htm IDEA: XBRL DOCUMENT v3.6.0.2
BorgWarner Inc. and Consolidated Subsidiaries Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
OPERATING      
Net earnings $ 160.2 $ 646.4 $ 687.5
Adjustments to reconcile net earnings to net cash flows from operations:      
Asbestos-related charge 703.6 0.0 0.0
Loss on divestiture 127.1 0.0 0.0
Depreciation and amortization 391.4 320.2 330.4
Restructuring expense, net of cash paid 12.0 36.3 45.8
Gain on previously held equity interest 0.0 (10.8) 0.0
Pension settlement loss 0.0 25.7 3.1
Stock-based compensation expense 43.6 40.2 32.1
Deferred income tax (benefit) provision (268.9) 13.3 42.3
Equity in affiliates’ earnings, net of dividends received, and other (17.0) (21.9) (5.2)
Net earnings adjusted for non-cash charges to operations 1,152.0 1,049.4 1,136.0
Changes in assets and liabilities:      
Receivables (137.5) (81.8) (248.7)
Inventories (36.5) (52.9) (39.7)
Prepayments and other current assets 8.8 (9.4) 12.7
Accounts payable and accrued expenses 134.9 23.1 129.1
Income taxes payable (14.2) 34.6 (28.7)
Other assets and liabilities (71.8) (95.1) (158.9)
Net cash provided by operating activities 1,035.7 867.9 801.8
INVESTING      
Capital expenditures, including tooling outlays [1] (500.6) (577.3) (563.0)
Proceeds from divestiture of businesses, net of cash divested 85.8 0.0 0.0
Proceeds from asset disposals and other 10.6 4.7 8.4
Payments for businesses acquired, including restricted cash, net of cash acquired 0.0 (1,199.6) (110.5)
Proceeds from settlement of net investment hedges 0.0 13.1 0.0
Net cash used in investing activities (404.2) (1,759.1) (665.1)
FINANCING      
Net (decrease) increase in notes payable (129.1) (316.7) 493.2
Additions to long-term debt, net of debt issuance costs 4.6 1,569.2 130.5
Repayments of long-term debt, including current portion (193.6) (29.8) (431.6)
Repayments of accounts receivable securitization facility 0.0 0.0 (110.0)
Proceeds from interest rate swap termination 8.9 0.0 0.0
Payments for purchase of treasury stock (288.0) (349.8) (139.9)
Proceeds from (payments for) stock-based compensation items 6.7 3.7 (6.7)
Dividends paid to BorgWarner stockholders (113.4) (116.7) (116.1)
Dividends paid to noncontrolling stockholders (29.9) (23.3) (21.1)
Net cash (used in) provided by financing activities (733.8) 736.6 (201.7)
Effect of exchange rate changes on cash (31.7) (65.5) (76.7)
Net decrease in cash (134.0) (220.1) (141.7)
Cash at beginning of year 577.7 797.8 939.5
Cash at end of year 443.7 577.7 797.8
Net Cash Paid During Period For [Abstract]      
Interest 100.3 70.2 49.5
Income taxes, net of refunds 300.5 183.8 229.7
Non Cash Investing Transactions [Abstract]      
Liabilities assumed from business acquired 0.0 31.1 3.2
Non-cash financing transactions [Abstract]      
Debt assumed from business acquired $ 0.0 $ 10.9 $ 40.3
[1] Long-lived asset expenditures include capital expenditures and tooling outlays.