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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 Close
Selling, general and administrative expenses 330 325 963 951 Close
Restructuring expense 56 5 68 42 Close
Other operating (income) expense, net (6) 12 (1) (7) CloseClose
Total Operating Expenses 380.0 342.0 1030.0 986.0 0 Close
Operating income 272 265 879 744 Close
Equity in affiliates’ earnings, net of tax (10) (5) (23) (21) Close
Realized and unrealized loss (gain) on debt and equity securities 60 (1) 129 27 Close
Interest (income) expense, net (19) 12 3 41 Close
Total Other Income Expenses 34.0 5.0 117.0 45.0 0 Close
Other postretirement expense (income) 3 (1) 8 (2) CloseClose
Earnings from continuing operations before income taxes and noncontrolling interest 238 260 762 699 Close
Provision for income taxes 133 68 230 177 Close
Net earnings from continuing operations 105 192 532 522
Net (loss) earnings from discontinued operations (37) 100 (12) 225 Close
Net earnings 68 292 520 747 Close
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