BORGWARNER INC

Listed Company

BWACIK 0000908255NYSELarge AcceleratedMotor Vehicle Parts & AccessoriesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$14.32B

Net Income

$277.00M

Total Assets

$13.77B

Equity

$5.44B

Shares Out

207.05M

Op. Cash Flow

$1.65B

Business

BorgWarner Inc. is a global supplier of clean and efficient propulsion technologies for combustion, hybrid and electric vehicles. It manufactures and sells products including turbochargers, thermal and emissions systems, transmission and drivetrain components, power electronics, eMotors, integrated drive modules, battery packs and DC fast chargers, plus software and controls. The Company operates through four reportable segments: Turbos & Thermal Technologies, Drivetrain & Morse Systems, PowerDrive Systems and Battery & Charging Systems. Its products are sold worldwide primarily to OEMs of light, commercial and off-highway vehicles, tier-one suppliers and the aftermarket via direct plant shipments and joint ventures.

Summary from filing dated 2025-02-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	14,316	14,086	14,198	12,635	11,803
Cost of sales	11,642	11,438	11,630	10,266	9,630
Gross profit	2,674	2,648	2,568	2,369	2,173
Selling, general and administrative expenses	1,304	1,350	1,316	1,290	1,085
Restructuring expense	101	74	79	48	108
Other operating expense (income), net	109	32	−16	−8	66
Impairment charges	624	646	29	30	—
Operating income	536	546	1,160	1,009	914
Equity in affiliates earnings, net of tax	−35	−27	−30	−28	−42
Unrealized and realized (gain) loss on equity and debt securities	3	−1	−174	−73	−362
Interest expense, net	−39	−20	−10	−51	—
Other postretirement expense	11	13	15	0	−7
Earnings from continuing operations before income taxes and noncontrolling interest	524	539	991	913	510
Provision for income taxes	189	111	289	195	65
Net earnings from continuing operations	335	428	702	718	445
Net loss from discontinued operations	0	−29	−7	308	194
Net earnings	335	399	695	1,026	639
Net earnings from continuing operations attributable to the noncontrolling interest, net of tax	58	61	70	82	102
Net earnings attributable to BorgWarner Inc.	277	338	625	944	537
Net earnings from continuing operations	277	367	632	636	343
Net loss from discontinued operations	0	−29	−7	—	—
Earnings per share from continuing operations basic (in dollar per share)	1.29	1.64	2.71	2.7	1.44
Loss per share from discontinued operations basic (in dollars per share)	0	−0.13	−0.03	1.31	0.81
Earnings per share attributable to BorgWarner Inc. basic (in dollar per share)	1.29	1.51	2.68	4.01	2.25
Earnings per share from continuing operations diluted (in dollar per share)	1.28	1.63	2.7	2.69	1.43
Loss per share from discontinued operations diluted (in dollars per share)	0	−0.13	−0.03	1.3	0.81
Earnings per share attributable to BorgWarner Inc. diluted (in dollar per share)	1.28	1.5	2.67	3.99	2.24
Basic (in shares)	214	224	233	236	238
Diluted (in shares)	216	225	234	237	240

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2,313	2,094	1,534	1,083	1,549
Receivables, net	2,962	2,843	3,109	2,471	2,898
Inventories	1,207	1,251	1,313	1,217	1,534
Prepayments and other current assets	313	333	261	230	321
Total current assets	6,795	6,521	6,217	6,617	6,597
Property, plant and equipment, net	3,330	3,575	3,783	3,426	4,395
Investments and long-term receivables	357	356	364	819	530
Goodwill	2,055	2,357	3,013	2,978	2,854
Other intangible assets, net	394	474	564	619	1,091
Other non-current assets	838	710	512	489	683
Total assets	13,769	13,993	14,453	16,994	16,575
Notes payable and other short-term debt	5	398	73	60	66
Accounts payable	1,996	2,032	2,546	2,146	2,276
Other current liabilities	1,281	1,216	1,148	1,084	1,456
Total current liabilities	3,282	3,646	3,767	4,236	3,798
Long-term debt	3,894	3,763	3,707	4,140	4,261
Retirement-related liabilities	128	137	146	129	290
Other non-current liabilities	851	741	767	686	964
Total liabilities	8,155	8,287	8,387	9,486	9,313
Commitments and contingencies	—	—	—	—	—
Preferred stock, $0.01 par value; authorized shares: 5,000,000; none issued and outstanding	0	0	0	0	0
Capital in excess of par value	2,676	2,674	2,689	2,675	2,637
Retained earnings	6,570	6,412	6,152	7,454	6,671
Accumulated other comprehensive loss	−799	−1,020	−828	−876	−551
Common stock held in treasury, at cost: (2025 - 76,518,605 shares; 2024 - 64,906,002 shares)	−3,008	−2,537	−2,188	−2,032	−1,812
Total BorgWarner Inc. stockholders equity	5,442	5,532	5,828	7,224	6,948
Noncontrolling interest	172	174	238	284	314
Total equity	5,614	5,706	6,066	7,508	7,262
Total liabilities and equity	13,769	13,993	14,453	16,994	16,575

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net cash provided by operating activities (see Note 25)	1,648	1,382	1,397	1,180	1,210
Capital expenditures, including tooling outlays	−469	−671	−832	−622	−514
Customer advances related to capital expenditures	29	18	0	0	—
Insurance proceeds received for damage to property, plant and equipment	4	0	0	0	5
Payments for acquired business, net of cash acquired	0	0	−109	−312	−759
Proceeds from sale of businesses, net	7	8	9	27	22
Proceeds from settlement of net investment hedges, net	18	46	25	40	11
(Payments for) proceeds from investments in debt and equity securities, net	0	−8	284	−473	−20
Proceeds from asset disposals and other, net	43	4	30	20	8
Net cash used in investing activities from continuing operations	−368	−603	−593	−1,320	−1,249
Payments on notes payable	−5	0	0	0	−8
Additions to debt	—	1,008	18	5	1,286
Repayments of debt, including current portion	−409	−525	−451	−13	−699
Payments for debt issuance costs	0	−9	−3	0	−11
Payments for purchase of treasury stock	−508	−402	−177	−240	0
Payments for stock-based compensation items	−22	−23	−25	−18	−15
Payments for business acquired, net of cash acquired	—	−4	—	—	—
Payments for contingent consideration	−4	−1	−23	0	0
Purchase of noncontrolling interest	0	0	−15	−56	−33
Net distribution from PHINIA	0	0	401	0	0
Dividends paid to BorgWarner stockholders	−119	−98	−130	−161	−162
Dividends paid to noncontrolling stockholders	−49	−113	−116	−81	−72
Net cash used in financing activities from continuing operations	−1,116	−167	−521	−564	294
Operating activities of discontinued operations	0	−30	−85	390	97
Investing activities of discontinued operations	0	0	−86	−99	−147
Financing activities of discontinued operations	0	0	84	−3	−8
Net cash used in discontinued operations	0	−30	−87	288	−58
Effect of exchange rate changes on cash	55	−22	0	−90	−3
Net increase in cash, cash equivalents and restricted cash	219	560	196	−506	194

Filings

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