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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net sales $ 3,449 $ 3,622 $ 10,647 $ 10,676
Cost of sales 2,813 2,970 8,682 8,767
Gross profit 636 652 1,965 1,909
Selling, general and administrative expenses 340 330 1,010 963
Restructuring expense 21 56 65 68
Other operating expense (income), net 5 (6) 28 (1)
Operating income 270 272 862 879
Equity in affiliates’ earnings, net of tax (6) (10) (23) (23)
Unrealized and realized (gain) loss on equity and debt securities (2) 60 0 129
Interest expense (income), net 4 (19) 17 3
Other postretirement expense 4 3 10 8
Earnings from continuing operations before income taxes and noncontrolling interest 270 238 858 762
Provision for income taxes 13 133 44 230
Net earnings from continuing operations 257 105 814 532
Net loss from discontinued operations (8) (37) (27) (12)
Net earnings 249 68 787 520
Net earnings from continuing operations attributable to noncontrolling interest 15 18 44 49
Net earnings attributable to BorgWarner Inc.  234 50 743 471
Amounts attributable to BorgWarner Inc.:        
Net earnings from continuing operations $ 242 $ 87 $ 770 $ 483
Basic earnings per share:        
Earnings per share from continuing operations — basic (in dollar per share) $ 1.08 $ 0.37 $ 3.41 $ 2.07
Loss per share from discontinued operations — basic (in dollar per share) (0.04) (0.16) (0.12) (0.05)
Earnings per share attributable to BorgWarner Inc. — basic (in dollar per share) 1.04 0.21 3.29 2.02
Diluted earnings per share:        
Earnings per share from continuing operations — diluted (in dollar per share) 1.08 0.37 3.40 2.06
Loss per share from discontinued operations — diluted (in dollar per share) (0.04) (0.16) (0.12) (0.05)
Earnings per share attributable to BorgWarner Inc. — diluted (in dollar per share) $ 1.04 $ 0.21 $ 3.28 $ 2.01
Weighted average shares outstanding:        
Basic (in shares) 223.1 233.4 225.7 233.2
Diluted (in shares) 224.5 235.3 226.8 234.6
Discontinued operations | Phinia        
Amounts attributable to BorgWarner Inc.:        
Net loss from discontinued operations $ (8) $ (37) $ (27) $ (12)