XML 16 R3.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Net sales $ 2,389.7 $ 2,329.2 $ 4,796.7 $ 4,597.8
Cost of sales 1,875.5 1,832.5 3,765.2 3,636.8
Gross profit 514.2 496.7 1,031.5 961.0
Selling, general and administrative expenses 215.0 202.3 433.8 390.7
Other (income) expense, net (0.3) 25.0 5.5 36.7
Operating income 299.5 269.4 592.2 533.6
Equity in affiliates’ earnings, net of tax (14.4) (10.1) (24.1) (19.2)
Interest income (1.4) (1.5) (2.9) (3.1)
Interest expense and finance charges 18.0 21.4 36.0 42.7
Earnings before income taxes and noncontrolling interest 297.3 259.6 583.2 513.2
Provision for income taxes 76.2 84.2 162.5 164.6
Net earnings 221.1 175.4 420.7 348.6
Net earnings attributable to the noncontrolling interest, net of tax 9.1 11.0 19.5 20.1
Net earnings attributable to BorgWarner Inc. $ 212.0 $ 164.4 $ 401.2 $ 328.5
Earnings per share — basic $ 1.01 $ 0.76 $ 1.90 $ 1.52
Earnings per share — diluted $ 1.00 $ 0.76 $ 1.89 $ 1.51
Weighted average shares outstanding (thousands):        
Basic 210,572 215,735 211,084 216,562
Diluted 211,478 216,663 211,857 217,401
Dividends declared per share $ 0.14 $ 0.13 $ 0.28 $ 0.26