XML 15 R5.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING    
Net earnings $ 182 $ 560
Adjustments to reconcile net earnings to net cash flows from operations:    
Depreciation and amortization 339 324
Restructuring expense, net of cash paid 49 14
Asset impairments 26 0
Stock-based compensation expense 29 30
Gain on insurance recovery received for property damage (9) 0
Deferred income tax provision 56 28
Pension settlement loss 0 26
Tax reform adjustments to provision for income taxes 0 16
Equity in affiliates’ earnings, net of dividends received, and other (1) 9
Net earnings adjusted for non-cash charges to operations 671 1,007
Changes in assets and liabilities:    
Receivables (25) (76)
Inventories 3 (56)
Prepayments and other current assets (4) (24)
Accounts payable and accrued expenses 153 (18)
Prepaid taxes and income taxes payable (2) 15
Other assets and liabilities 12 (24)
Net cash provided by operating activities 808 824
INVESTING    
Capital expenditures, including tooling outlays (262) (346)
Insurance proceeds received for damage to property, plant and equipment 23 0
Capital expenditures for damage to property, plant and equipment (18) 0
Proceeds from settlement of net investment hedges 12 0
Payments for business acquired, net of cash acquired (2) (10)
Payments for investments in equity securities (2) (52)
Proceeds from sale of business, net of cash divested 0 24
Proceeds from asset disposals and other, net 0 4
Net cash used in investing activities (249) (380)
FINANCING    
Net increase in notes payable 6 0
Additions to debt 1,163 45
Payments for debt issuance costs (11) 0
Repayments of debt, including current portion (308) (54)
Payments for purchase of treasury stock 0 (100)
Payments for stock-based compensation items (13) (15)
Contributions from noncontrolling interest stockholders 0 4
Dividends paid to BorgWarner stockholders (105) (105)
Dividends paid to noncontrolling stockholders (21) (23)
Net cash provided by (used in) financing activities 711 (248)
Effect of exchange rate changes on cash 19 (19)
Net increase in cash and cash equivalents 1,289 177
Cash and cash equivalents at beginning of year 832 739
Cash and cash equivalents at end of period 2,121 916
Cash paid during the period for:    
Interest 53 58
Income taxes, net of refunds $ 110 $ 148