BorgWarner Inc. (BWA) financial statements (2022 and earlier)

Company profile

Business Address 3850 HAMLIN RD.
AUBURN HILLS, MI 48326
State of Incorp. DE
Fiscal Year End December 31
SIC 3714 - Motor Vehicle Parts and Accessories (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,8411,650832739545444
Cash and cash equivalents1,8411,650832739545444
Receivables2,8982,9191,9211,9872,0191,689
Inventory, net of allowances, customer advances and progress billings1,5341,286807781766641
Inventory1,5341,286807781766641
Prepaid expense818483838278
Contract with customer, asset1716  
Disposal group, including discontinued operation   2729 
Other current assets967298835852
Other undisclosed current assets13014095104448
Total current assets:6,5976,1673,8363,8053,5432,912
Noncurrent Assets
Finance lease, right-of-use asset1112 
Property, plant and equipment  2,9252,9042,8642,502
Long-term investments and receivables, including:530820318592547283
Long-term investments428769256244240502
Accounts and financing receivable, after allowance for credit loss  245308 
Other undisclosed long-term investments and receivables1025160303 (219)
Intangible assets, net (including goodwill)4,3703,7232,2442,2932,3752,166
Goodwill3,2792,6271,8421,8531,8821,702
Intangible assets, net (excluding goodwill)1,0911,096402440493464
Other noncurrent assets683728379502459753
Other undisclosed noncurrent assets4,3844,579   219
Total noncurrent assets:9,9789,8625,8666,2916,2445,923
TOTAL ASSETS:16,57516,0299,70210,0959,7888,835
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:  1,9772,1442,2701,847
Accounts payable  1,3251,4851,5461,323
Accrued liabilities  80687972
Employee-related liabilities  342566
Taxes payable  66594169
Interest and dividends payable  32364139
Other undisclosed accounts payable and accrued liabilities  440471558339
Debt66492521401619
Restructuring reserve96111    
Disposal group, including discontinued operation   2330 
Contract with customer, liability13
Other liabilities1,4561,409    
Other undisclosed current liabilities2,1802,24110078110225
Total current liabilities:3,7983,8102,3292,3992,4252,092
Noncurrent Liabilities
Long-term debt and lease obligation, including:4,2613,7381,6741,9412,1042,044
Long-term debt, excluding current maturities4,2613,7381,6741,9412,1042,044
Finance lease, liability1112 
Other undisclosed long-term debt and lease obligation(11)(12)    
Liabilities, other than long-term debt, including:1,2541,7578551,4111,4331,397
Contract with customer, liability17
Liability, pension and other postretirement and postemployment benefits290576306298302294
Other liabilities9641,181549357356276
Other undisclosed liabilities, other than long-term debt   738776828
Total noncurrent liabilities:5,5155,4952,5293,3523,5373,441
Total liabilities:9,3139,3054,8585,7515,9625,533
Stockholders' equity
Stockholders' equity attributable to parent, including:6,9486,4284,7064,2263,7173,218
Common stock 33333
Treasury stock, value(1,812)(1,834)(1,657)(1,585)(1,445)(1,382)
Additional paid in capital2,6372,6141,1451,1461,1191,104
Accumulated other comprehensive loss(551)(651)(727)(674)(490)(722)
Retained earnings6,6716,2965,9425,3364,5314,215
Other undisclosed stockholders' equity attributable to parent3     
Stockholders' equity attributable to noncontrolling interest31429613811910984
Total stockholders' equity:7,2626,7244,8444,3453,8263,302
TOTAL LIABILITIES AND EQUITY:16,57516,0299,70210,0959,7888,835

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues14,83810,16510,16810,5309,7999,071
Revenue, net9,7999,071
Cost of revenue
(Cost of Goods and Services Sold)
(11,983)(8,255)(8,067)(8,300)(7,679)(7,138)
Gross profit:2,8551,9102,1012,2292,1201,933
Operating expenses(1,623)(951)(873)(946)(899)(818)
Other operating income (expense), net(81)(341)75(94)(145)(890)
Operating income:1,1516181,3031,1901,077226
Nonoperating income (expense)5719(18)13613
Investment income, nonoperating12129666
Gain on contract termination     6
Net periodic defined benefits expense (reversal of expense), excluding service cost component457(27)9
Other nonoperating expense   (3)  
Interest and debt expense(93)(73)(55)(59)(71)(85)
Income from continuing operations before equity method investments, income taxes:1,1155641,2301,1441,012154
Income from equity method investments481832495143
Other undisclosed income (loss) from continuing operations before income taxes(374)38233 (6)
Income from continuing operations before income taxes:7899641,2651,1961,064191
Income tax expense(150)(397)(468)(211)(580)(30)
Net income:639567797985483160
Net loss attributable to noncontrolling interest(102)(67)(51)(54)(43)(42)
Net income available to common stockholders, diluted:537500746931440119

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income:639567797985483160
Other comprehensive income  78651620
Other undisclosed comprehensive income (loss)9496(133)(243)228(178)
Comprehensive income:7336637428077272
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(96)(87)28(11)5
Other undisclosed comprehensive loss, net of tax, attributable to parent  (51)(54)(43) 
Comprehensive income, net of tax, attributable to parent:6375766937616727

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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