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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Net sales $ 3,622 $ 3,226 $ 10,676 $ 9,318
Cost of sales 2,970 2,619 8,767 7,588
Gross profit 652 607 1,909 1,730
Selling, general and administrative expenses 330 325 963 951
Restructuring expense 56 5 68 42
Other operating (income) expense, net (6) 12 (1) (7)
Operating income 272 265 879 744
Equity in affiliates’ earnings, net of tax (10) (5) (23) (21)
Realized and unrealized loss (gain) on debt and equity securities 60 (1) 129 27
Interest (income) expense, net (19) 12 3 41
Other postretirement expense (income) 3 (1) 8 (2)
Earnings from continuing operations before income taxes and noncontrolling interest 238 260 762 699
Provision for income taxes 133 68 230 177
Net earnings from continuing operations 105 192 532 522
Net (loss) earnings from discontinued operations (37) 100 (12) 225
Net earnings 68 292 520 747
Net earnings from continuing operations attributable to noncontrolling interest, net of tax 18 19 49 58
Net earnings from discontinued operations attributable to noncontrolling interest, net of tax 0 0 0 0
Net earnings attributable to BorgWarner Inc.  50 273 471 689
Amounts attributable to BorgWarner Inc.:        
Net earnings from continuing operations $ 87 $ 173 $ 483 $ 464
Basic earnings per share:        
Earnings per share from continuing operations — basic (in dollar per share) $ 0.37 $ 0.74 $ 2.07 $ 1.96
Earnings per share from discontinued operations — basic (in dollar per share) (0.16) 0.43 (0.05) 0.95
Earnings per share attributable to BorgWarner Inc. — basic (in dollar per share) 0.21 1.17 2.02 2.91
Diluted earnings per share:        
Earnings per share from continuing operations — diluted (in dollar per share) 0.37 0.73 2.06 1.95
Earnings per share from discontinued operations — diluted (in dollar per share) (0.16) 0.42 (0.05) 0.95
Earnings per share attributable to BorgWarner Inc. — diluted (in dollar per share) $ 0.21 $ 1.15 $ 2.01 $ 2.90
Weighted average shares outstanding:        
Basic (in shares) 233.4 234.3 233.2 236.5
Diluted (in shares) 235.3 235.6 234.6 237.5
Discontinued Operations | Phinia        
Amounts attributable to BorgWarner Inc.:        
Net (loss) earnings from discontinued operations $ (37) $ 100 $ (12) $ 225