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ACQUISITIONS AND DISPOSITIONS (Tables)
 12 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of fair values of assets acquired and liabilities
The following table summarizes the estimated fair values of assets acquired and liabilities assumed as of June 4, 2021, the acquisition date:
(in millions)Initial AllocationMeasurement Period AdjustmentsRevised Allocation
ASSETS
Cash and cash equivalents (including restricted cash of $16 million)
$29 $— $29 
Receivables, net16 — 16 
Inventories, net42 (2)40 
Prepayments and other current assets5 — 5 
Property, plant and equipment, net106 (3)103 
Goodwill707 (3)704 
Other intangible assets, net130 — 130 
Other non-current assets— 7 7 
Total assets acquired1,035 (1)1,034 
LIABILITIES
Notes payable and other short-term debt8 — 8 
Accounts payable22 — 22 
Other current liabilities13 6 19 
Long-term debt69 — 69 
Other non-current liabilities39 (7)32 
Total liabilities assumed151 (1)150 
Noncontrolling interests96 — 96 
Net assets and noncontrolling interest acquired$788 $— $788 
The following table summarizes the final fair values of assets acquired and liabilities assumed as of the acquisition date and subsequent measurement period adjustments:
(in millions)Initial AllocationMeasurement Period AdjustmentsRevised Allocation
ASSETS
Cash and cash equivalents$460 $— $460 
Receivables, net901 (4)897 
Inventories, net1
398 (5)393 
Prepayments and other current assets77 2 79 
Property, plant and equipment, net1,548 (31)1,517 
Investments and long-term receivables103 (1)102 
Goodwill710 44 754 
Other intangible assets, net760 — 760 
Other non-current assets359 1 360 
Total assets acquired5,316 6 5,322 
LIABILITIES
Notes payable and other short-term debt2 — 2 
Accounts payable692 1 693 
Other current liabilities609 9 618 
Long-term debt934 — 934 
Other non-current liabilities:
Retirement-related313 — 313 
Other non-current liabilities286 (4)282 
Total liabilities assumed2,836 6 2,842 
Noncontrolling interest89 — 89 
Net assets and noncontrolling interest acquired$2,391 $— $2,391 
_____________________________
1 During the three months ended December 31, 2020, the Company incurred $27 million of expense related to the amortization of the inventory fair value adjustment.
Schedule of other intangible assets acquired
The following table summarizes the other intangible assets acquired:
(in millions)Estimated LifeEstimated Fair Value
Amortized intangible assets:
Developed technology5 years$70 
Customer relationships11 years25 
Total amortized intangible assets95 
Unamortized trade namesIndefinite35 
Total other intangible assets$130 
The following table summarizes the other intangible assets acquired:

(in millions)Estimated LifeEstimated Fair Value
Amortized intangible assets:  
Developed technology14 years$270 
Customer relationships15 years380 
Total amortized intangible assets650 
Unamortized trade nameIndefinite110 
Total other intangible assets$760 
Summary of purchase price consideration
The following table summarizes the purchase price for Delphi Technologies:

(in millions, except for share data)
BorgWarner common stock issued for purchase of Delphi Technologies37,188,819
BorgWarner share price at October 1, 2020$39.54 
Fair value of stock consideration$1,470 
Stock compensation consideration7
Total stock consideration$1,477 
Cash consideration18 
Repayment of Delphi Technologies’ debt896 
Total consideration$2,391 
Schedule of goodwill
(in millions)
Air Management$150 
e-Propulsion & Drivetrain301 
Fuel Injection— 
Aftermarket303 
Total acquisition date goodwill$754 
A summary of the changes in the carrying amount of goodwill is as follows:
2021
(in millions)Air Managemente-Propulsion & DrivetrainAftermarketTotal
Gross goodwill balance, January 1$1,517 $1,313 $299 $3,129 
Accumulated impairment losses, January 1(502)— — (502)
Net goodwill balance, January 1$1,015 $1,313 $299 $2,627 
Goodwill during the year:
Acquisitions1 (Note 2)
707 — — 707 
Measurement period adjustments (Note 2)(4)29 16 41 
Disposition2 (Note 2)
— (12)— (12)
Other, primarily translation adjustment(51)(29)(4)(84)
Net goodwill balance, December 31$1,667 $1,301 $311 $3,279 
2020
(in millions)Air Managemente-Propulsion & DrivetrainAftermarketTotal
Gross goodwill balance, January 1$1,337 $1,007 $— $2,344 
Accumulated impairment losses, January 1(502)— — (502)
Net goodwill balance, January 1$835 $1,007 $— $1,842 
Goodwill during the year:
Acquisitions1 (Note 2)
151 272 287 710 
Other, primarily translation adjustment29 34 12 75 
Net goodwill balance, December 31$1,015 $1,313 $299 $2,627 
_____________________________
1 Acquisitions relate to the Company’s 2021 purchase of AKASOL and 2020 purchase of Delphi Technologies.
2 Disposition relates to the Company’s 2021 sale of Water Valley.
Schedule of Pro forma financial information
The following table summarizes the net sales and earnings related to Delphi Technologies’ operations that have been included in the Company’s Consolidated Statement of Operations for the year ended December 31, 2020, following the October 1, 2020 acquisition date:
(in millions)
Net sales$1,120 
Net earnings attributable to BorgWarner Inc.$30 
The following table summarizes, on a pro forma basis, the combined results of operations of the Company and Delphi Technologies business as though the acquisition and the related financing had occurred as of January 1, 2019. The pro forma results are not necessarily indicative of either the actual consolidated results had the acquisition of Delphi Technologies occurred on January 1, 2019 or of future consolidated operating results. Actual operating results for the year ended December 31, 2021 have been included in the table below for comparative purposes.
ActualPro forma (unaudited)
Year Ended December 31,
(in millions)202120202019
Net sales$14,838 $12,792 $14,529 
Net earnings attributable to BorgWarner Inc.$537 $616 $625