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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net sales $ 3,603 $ 3,671 $ 7,198 $ 7,054
Cost of sales 2,918 2,991 5,869 5,797
Gross profit 685 680 1,329 1,257 Close
Selling, general and administrative expenses 341 334 670 633 Close
Restructuring expense 25 9 44 12 Close
Other operating expense, net 22 4 23 5 CloseClose
Total Operating Expenses 388.0 347.0 737.0 650.0 0 Close
Operating income 297 333 592 607 Close
Equity in affiliates’ earnings, net of tax (12) (12) (17) (13) Close
Unrealized loss on equity and debt securities 0 54 2 69 Close
Interest expense, net 8 12 13 22 Close
Total Other Income Expenses -1.0 57.0 4.0 83.0 0 Close
Other postretirement expense 3 3 6 5 CloseClose
Earnings from continuing operations before income taxes and noncontrolling interest 298 276 588 524 Close
(Benefit) provision for income taxes (31) 30 31 97 Close
Net earnings from continuing operations 329 246 557 427
Net (loss) earnings from discontinued operations (12) (24) (19) 25 Close
Net earnings 317 222 538 452 Close
Net earnings from continuing operations attributable to noncontrolling interest 14 18 29 31
Net earnings attributable to BorgWarner Inc.  303 204 509 421
Amounts attributable to BorgWarner Inc.:        
Net earnings from continuing operations $ 315 $ 228 $ 528 $ 396
Basic earnings per share:        
Earnings per share from continuing operations — basic (in dollar per share) $ 1.39 $ 0.98 $ 2.33 $ 1.70
(Loss) earnings per share from discontinued operations — basic (in dollar per share) (0.05) (0.10) (0.08) 0.11
Earnings per share attributable to BorgWarner Inc. — basic (in dollar per share) 1.34 0.88 2.25 1.81
Diluted earnings per share:        
Earnings per share from continuing operations — diluted (in dollar per share) 1.39 0.97 2.32 1.69
(Loss) earnings per share from discontinued operations — diluted (in dollar per share) (0.05) (0.10) (0.08) 0.11
Earnings per share attributable to BorgWarner Inc. — diluted (in dollar per share) $ 1.34 $ 0.87 $ 2.24 $ 1.80
Weighted average shares outstanding:        
Basic (in shares) 226.1 233.4 227.0 233.1
Diluted (in shares) 227.2 234.4 227.9 234.3
Discontinued operations | Phinia        
Amounts attributable to BorgWarner Inc.:        
Net (loss) earnings from discontinued operations $ (12) $ (24) $ (19) $ 25