REPORTING SEGMENTS AND RELATED INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

The following tables show segment information and Segment Adjusted Operating Income for the Company’s reporting segments:


2022 Segment information
	Net sales						Year-end assets		Depreciation/ amortization		Long-lived asset expenditures1
(in millions)	Customers		Inter-segment		Net
Air Management	$	7,034	$	95	$	7,129	$	5,376	$	245	$	192
e-Propulsion & Drivetrain	5,440		185		5,625		6,416		278		415
Fuel Systems	2,052		262		2,314		2,227		140		99
Aftermarket	1,275		10		1,285		1,281		23		16
Inter-segment eliminations	—		(552)		(552)		—		—		—
Total	15,801		—		15,801		15,300		686		722
Corporate2	—		—		—		1,694		35		1
Consolidated	$	15,801	$	—	$	15,801	$	16,994	$	721	$	723


2021 Segment information
	Net sales						Year-end assets		Depreciation/ amortization		Long-lived asset expenditures1
(in millions)	Customers		Inter-segment		Net
Air Management	$	6,720	$	100	$	6,820	$	5,274	$	268	$	239
e-Propulsion & Drivetrain	4,918		168		5,086		6,122		278		262
Fuel Systems	1,996		241		2,237		2,306		166		125
Aftermarket	1,204		8		1,212		1,204		24		6
Inter-segment eliminations	—		(517)		(517)		—		—		—
Total	14,838		—		14,838		14,906		736		632
Corporate2	—		—		—		1,669		36		34
Consolidated	$	14,838	$	—	$	14,838	$	16,575	$	772	$	666


2020 Segment information
	Net sales						Year-end assets		Depreciation/ amortization3		Long-lived asset expenditures1
(in millions)	Customers		Inter-segment		Net
Air Management	$	5,496	$	68	$	5,564	$	5,385	$	235	$	202
e-Propulsion & Drivetrain	3,648		47		3,695		5,017		242		185
Fuel Systems	537		56		593		2,375		38		29
Aftermarket	484		4		488		1,177		21		9
Inter-segment eliminations	—		(175)		(175)		—		—		—
Total	10,165		—		10,165		13,954		536		425
Corporate2	—		—		—		2,075		32		16
Consolidated	$	10,165	$	—	$	10,165	$	16,029	$	568	$	441

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1 Long-lived asset expenditures include capital expenditures and tooling outlays.
2 Corporate assets include cash and cash equivalents, investments and long-term receivables, and deferred income taxes.
3 In 2020, e-Propulsion & Drivetrain includes $38 million related to accelerated amortization for certain intangibles, refer to Note 12, “Goodwill and Other Intangibles,” for more information.

Segment Adjusted Operating Income


	Year Ended December 31,
(in millions)	2022		2021		2020
Air Management	$	1,068	$	1,064	$	762
e-Propulsion & Drivetrain	379		458		368
Fuel Systems	249		235		49
Aftermarket	196		164		54
Segment Adjusted Operating Income	1,892		1,921		1,233
Corporate, including stock-based compensation	289		302		192
Intangible asset amortization expense	97		88		89
Restructuring expense	59		163		203
Merger, acquisition and divestiture expense, net	40		50		96
Asset impairments and lease modifications	30		17		17
(Gain) loss on sales of businesses	(13)		29		—
Other non-comparable items	16		(3)		(9)
Customer warranty settlement (Note 21)	—		124		—
Amortization of inventory fair value adjustment	—		—		27


Equity in affiliates' earnings, net of tax	(38)		(48)		(18)
Unrealized loss (gain) on debt and equity securities	73		362		(382)


Interest expense, net	52		93		61
Other postretirement income	(31)		(45)		(7)
Earnings before income taxes and noncontrolling interest	1,318		789		964
Provision for income taxes	292		150		397
Net earnings	1,026		639		567
Net earnings attributable to the noncontrolling interest, net of tax	82		102		67
Net earnings attributable to BorgWarner Inc.	$	944	$	537	$	500