BORGWARNER INC
For the period ended Dec 31, 2023. Filed Feb 8, 2024.
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FY2023 · Filed Feb 8, 2024
BWA$51.44+5.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions, except per share amounts) | 2023 | 2022 | 2021 |
| Net sales | $14,198 | $12,635 | $11,803 |
| Cost of sales | 11,630 | 10,266 | 9,630 |
| Gross profit | 2,568 | 2,369 | 2,173 |
| Selling, general and administrative expenses | 1,316 | 1,290 | 1,085 |
| Restructuring expense | 79 | 48 | 108 |
| Other operating expense, net | 13 | 22 | 66 |
| Operating income | 1,160 | 1,009 | 914 |
| Equity in affiliates’ earnings, net of tax | (30) | (28) | (42) |
| Realized and unrealized loss on debt and equity securities | 174 | 73 | 362 |
| Interest expense, net | 10 | 51 | 91 |
| Other postretirement expense (income) | 15 | — | (7) |
| Earnings from continuing operations before income taxes and noncontrolling interest | 991 | 913 | 510 |
| Provision for income taxes | 289 | 195 | 65 |
| Net earnings from continuing operations | 702 | 718 | 445 |
| Net (loss) earnings from discontinued operations | (7) | 308 | 194 |
| Net earnings | 695 | 1,026 | 639 |
| Net earnings from continuing operations attributable to the noncontrolling interest, net of tax | 70 | 82 | 102 |
| Net earnings attributable to BorgWarner Inc. | $625 | $944 | $537 |
| Amounts attributable to BorgWarner Inc.: | |||
| Net earnings from continuing operations | $632 | $636 | $343 |
| Net (loss) earnings from discontinued operations | (7) | 308 | 194 |
| Net earnings attributable to BorgWarner Inc. | $625 | $944 | $537 |
| Earnings per share from continuing operations — basic | $2.71 | $2.70 | $1.44 |
| Earnings per share from discontinued operations — basic | (0.03) | 1.31 | 0.81 |
| Earnings per share attributable to BorgWarner Inc. — basic | $2.68 | $4.01 | $2.25 |
| Earnings per share from continuing operations — diluted | $2.70 | $2.69 | $1.43 |
| Earnings per share from discontinued operations — diluted | (0.03) | 1.30 | 0.81 |
| Earnings per share attributable to BorgWarner Inc. — diluted | $2.67 | $3.99 | $2.24 |
| Weighted average shares outstanding: | |||
| Basic | 232.8 | 235.5 | 238.1 |
| Diluted | 234.4 | 236.8 | 239.5 |
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