BORGWARNER INC. BWA Cash Flow

Borgwarner inc. (BWA)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
OPERATING
Net earnings
763,000	797,000	808,000	817,000	919,000	985,000	604,700	583,300	520,400	483,000	810,300	708,800	663,100	636,700	544,600	617,400	599,400	613,900	658,400	665,500	708,000	687,500	689,500	689,400	669,600	651,000	628,200	561,200	507,300	522,400	523,000	563,800	604,900	570,600	559,000	523,800	444,200	396,200	337,200	245,700	124,100	36,400	0	0	0
Adjustments to reconcile net earnings to net cash flows from operations:
Deferred income tax (benefit) provision
-189,000	-186,000	122,000	126,000	47,000	57,000	-118,500	-114,800	-54,600	-42,000	32,000	8,500	-10,100	-6,800	-20,500	6,800	19,100	5,600	-60,300	-57,600	-47,500	-42,300	76,700	70,800	55,500	22,900	2,100	6,000	15,800	10,700	24,800	10,100	-2,800	1,100	68,000	53,300	37,800	52,200	63,900	81,300	66,000	57,700	0	0	0
Stock-based compensation expense
44,000	42,000	45,000	48,000	46,000	53,000	54,500	49,700	53,900	52,000	51,800	47,600	47,100	43,600	37,000	39,900	38,900	40,200	38,500	36,900	35,200	32,100	31,400	30,000	29,200	36,600	45,000	48,000	50,900	56,700	46,400	41,700	38,000	21,800	23,600	23,400	22,700	22,800	19,700	20,100	21,700	22,000	0	0	0
Asset Impairment Charges
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets and other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	27,000	27,100	27,700	28,400	29,200	30,400	31,300	30,800	30,500	29,900	28,800	28,400	28,200	28,000	27,000	26,300	0	0	0
Restructuring expense, net of cash paid
25,000	30,000	12,000	14,000	33,000	33,000	58,500	58,000	34,000	27,000	3,500	2,200	11,900	12,000	28,400	27,000	28,300	36,300	21,500	26,000	19,600	45,800	92,700	87,400	82,800	48,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
444,000	439,000	429,000	427,000	429,000	431,000	432,000	428,900	419,700	408,000	402,200	395,100	394,300	391,400	375,100	355,600	337,500	320,200	340,400	337,000	333,400	330,400	323,300	313,300	305,300	299,400	272,800	270,900	264,600	260,200	255,000	254,000	255,100	252,200	240,300	235,000	228,300	224,500	232,900	235,000	234,400	234,600	0	0	0
Gain on previously held equity interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax Reform Adjustments to Provision for Income Taxes
-6,000	16,000	3,000	3,000	9,000	-13,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bond amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,500	15,800	19,900	20,300	19,800	19,200	18,700	18,300	0	0	0	-	-	-	-
Equity in affiliates’ earnings, net of dividends received, and other
0	-	19,000	11,000	5,000	-12,000	-30,300	-48,600	-33,500	-32,000	-18,400	-3,100	-10,800	-17,000	-35,400	-27,500	-27,800	-21,900	-3,700	-3,100	-6,000	-5,200	-3,400	-16,100	-14,700	-21,300	-20,000	-25,800	-15,900	-7,700	-1,900	4,600	-2,900	-7,800	-8,900	100	400	1,700	-8,000	-33,400	-34,100	21,300	0	0	0
Net earnings adjusted for non-cash charges to operations
1,309,000	1,367,000	1,376,000	1,384,000	1,400,000	1,446,000	1,429,900	1,385,500	1,368,900	1,325,000	1,267,000	1,251,200	1,187,600	1,152,000	1,101,600	1,085,100	1,061,300	1,049,400	1,051,000	1,067,800	1,113,600	1,136,000	1,165,000	1,129,400	1,081,200	991,300	926,200	880,900	879,600	904,300	963,500	974,500	962,800	908,300	813,900	766,300	682,500	645,700	595,500	493,100	379,200	334,000	0	0	0
Changes in assets and liabilities:
Receivables
-266,000	-19,000	8,000	-26,000	-49,000	43,000	47,000	153,000	139,600	168,000	193,300	188,400	197,100	137,500	88,500	30,100	35,500	81,800	192,500	157,700	204,300	248,700	122,100	136,800	141,000	91,700	70,000	14,700	-14,200	-43,800	39,800	156,500	138,700	150,600	160,600	164,300	289,900	239,000	283,000	318,500	272,800	106,600	0	0	0
Inventories
63,000	36,000	29,000	31,000	57,000	53,000	94,200	115,800	106,500	85,000	61,800	53,600	24,100	36,500	53,700	25,900	40,200	52,900	33,600	62,800	62,400	39,700	52,600	23,900	4,100	14,800	-20,200	-13,100	4,000	5,300	29,600	34,900	24,900	38,600	40,600	58,800	64,700	79,000	88,800	43,300	-178,500	-143,000	0	0	0
Prepayments and other current assets
3,000	18,000	0	7,000	28,000	19,000	32,900	19,600	4,300	-1,000	4,200	3,700	400	-8,800	-4,800	-6,900	-900	9,400	-32,900	-12,500	-5,100	-12,700	5,000	4,500	4,500	14,200	36,200	26,900	17,100	15,400	9,200	11,900	5,400	2,400	10,300	-5,500	3,200	-600	-6,500	14,300	-12,700	-1,200	0	0	0
Accounts payable and accrued expenses
-99,000	-123,000	107,000	-18,000	-87,000	-76,000	-17,800	127,700	140,300	233,000	198,700	188,500	162,200	134,900	62,400	-60,000	-53,000	23,100	1,400	37,900	92,300	129,100	22,000	50,500	47,600	33,100	60,500	49,600	31,700	-27,100	-33,900	53,600	40,200	53,000	89,700	17,200	76,000	169,400	238,900	322,300	255,400	98,900	0	0	0
Prepaid taxes and income taxes payable
12,000	-8,000	-16,000	-26,000	-100,000	-85,000	-78,900	-75,800	-23,500	-43,000	800	-32,700	-4,900	-14,200	-12,400	12,800	16,600	34,600	15,800	28,400	-5,600	-28,700	-34,700	-39,500	-33,200	-30,000	-6,700	9,100	18,700	44,900	1,200	-4,400	-8,400	-15,400	3,800	-1,000	18,700	37,300	37,000	34,800	-600	-6,900	0	0	0
Other assets and liabilities
19,000	21,000	36,000	40,000	46,000	44,000	47,000	63,200	80,600	83,000	140,700	88,600	61,700	71,800	23,400	78,000	80,500	95,100	149,200	131,200	150,600	158,900	222,400	230,200	197,100	154,900	43,100	42,500	58,900	66,500	74,500	51,700	45,200	46,100	-3,400	-15,300	-14,000	-3,900	68,700	88,600	156,900	112,600	0	0	0
Net cash provided by operating activities
1,231,000	1,008,000	1,394,000	1,288,000	1,131,000	1,126,000	1,112,100	1,085,800	1,154,700	1,180,000	1,066,500	1,072,700	1,061,600	1,035,700	990,800	910,800	869,600	867,900	725,800	794,900	788,100	801,800	750,200	745,000	748,900	718,800	850,900	868,600	864,200	878,700	777,700	768,700	780,400	708,200	699,300	580,200	433,400	538,900	437,400	385,500	347,100	351,000	0	0	0
INVESTING
Capital expenditures, including tooling outlays
481,000	481,000	498,000	521,000	503,000	546,000	564,300	574,800	589,100	560,000	535,500	520,100	527,200	500,600	513,300	527,000	541,600	577,300	583,900	590,700	576,800	563,000	517,800	480,300	456,600	417,800	422,300	413,800	399,800	407,400	402,600	422,200	418,500	393,700	362,900	329,100	291,500	276,600	232,600	191,100	188,700	172,000	0	0	0
Proceeds from stock options exercised, including the tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	27,400	23,800	16,400	52,000	59,200	63,000	72,100	53,000	70,400	81,600	79,900	67,100	43,300	29,800	23,300	8,700	0	0	0
Taxes paid on employees' restricted stock award vestings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	29,500	29,500	27,800	18,100	17,800	17,600	19,400	14,400	14,400	14,400	12,500	0	0	0	0	-	-	-	-
Payments to Acquire Businesses, Net of Cash Acquired
2,000	10,000	10,000	10,000	10,000	0	0	0	0	-	-	-	-	-	-	-	1,187,000	1,199,600	16,700	16,700	16,700	110,500	106,400	106,400	106,400	0	0	0	0	-	-	-	-	203,700	203,700	203,700	368,400	164,700	0	0	0	-	-	-	-
Proceeds from sale of business
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56,800	79,700	24,500	26,600	25,000	2,100	2,100	0	5,000	0	0	0	-	-	-	-
Payments for (Proceeds from) Hedge, Investing Activities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of business, net of cash divested
1,000	24,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for investments in equity securities
52,000	53,000	54,000	51,000	6,000	6,000	5,000	4,000	2,500	3,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from asset disposals and other, net
12,000	9,000	37,000	40,000	35,000	36,000	1,600	1,000	4,700	5,000	16,000	15,400	12,000	10,600	-5,700	-3,600	2,800	4,700	8,600	8,900	7,700	8,400	13,400	19,300	20,700	33,000	24,300	18,600	18,200	5,400	4,900	4,900	2,800	7,900	8,300	8,400	10,900	6,800	8,000	13,300	19,900	23,100	0	0	0
Net cash used in investing activities
-505,000	-489,000	-501,000	-524,000	-457,000	-514,000	-574,300	-763,800	-780,300	-752,000	-632,500	-430,500	-433,700	-404,200	-1,673,500	-1,692,900	-1,710,500	-1,759,100	-592,000	-598,500	-585,800	-665,100	-610,800	-567,400	-542,300	-384,800	-398,000	-340,000	-326,400	-345,200	-318,000	-392,800	-389,100	-564,500	-556,200	-522,300	-649,000	-429,500	-382,700	-335,900	-169,700	-154,800	0	0	0
FINANCING
Net decrease in notes payable
-	-	-	-	-	-34,000	-242,900	-55,000	-44,400	-88,000	-55,800	-226,300	-74,400	-129,100	265,900	287,500	215,300	-316,700	-407,700	-350,300	-130,400	493,200	311,200	182,700	77,900	-44,400	-7,600	99,600	13,500	12,800	72,900	21,200	13,600	67,600	4,600	-60,600	-1,400	-29,800	-10,400	40,200	-171,000	-114,700	0	0	0
Additions to long-term debt, net of debt issuance costs
65,000	63,000	84,000	70,000	58,000	59,000	23,000	22,000	15,000	3,000	0	0	0	-	-	-	-	1,569,200	1,050,200	1,048,600	1,043,300	130,500	125,300	221,600	228,500	289,500	272,000	179,600	283,500	313,900	320,600	310,700	349,300	364,600	368,200	726,100	578,900	372,200	361,900	0	361,600	381,600	0	0	0
Repayments of debt, including current portion
192,000	204,000	105,000	91,000	82,000	66,000	20,500	21,500	23,600	20,000	191,500	196,800	191,300	193,600	24,000	23,600	35,400	29,800	31,300	26,900	334,600	431,600	422,800	420,400	161,500	77,000	119,700	227,000	162,100	246,400	316,400	265,600	405,100	309,100	197,100	244,600	117,500	116,100	117,100	17,700	30,300	164,500	0	0	0
Proceeds from interest rate swap termination
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30,000	0	0	0
Payments for noncontrolling interest acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Payments for purchase of treasury stock
33,000	100,000	100,000	140,000	162,000	150,000	150,000	125,300	124,000	100,000	138,000	188,900	239,500	288,000	469,500	470,700	395,600	349,800	180,200	177,800	173,600	139,900	90,000	100,000	175,600	225,500	321,100	246,100	345,800	295,900	289,100	289,100	175,700	357,600	397,200	439,700	507,600	325,700	0	0	0	-	-	-	-
Payments for stock-based compensation items
-13,000	-15,000	-15,000	-15,000	-15,000	-15,000	-14,900	-15,100	-14,700	-2,000	3,700	8,100	13,000	6,700	2,600	0	-2,300	3,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to BorgWarner stockholders
140,000	140,000	141,000	141,000	141,000	142,000	141,500	135,900	130,300	124,000	118,100	116,300	114,900	113,400	112,600	114,200	115,500	116,700	117,200	118,000	117,100	116,100	115,100	113,600	85,200	56,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	13,800	0	0	0
Dividends paid to noncontrolling stockholders
20,000	28,000	31,000	34,000	39,000	35,000	33,400	33,300	26,200	30,000	27,800	28,100	31,200	29,900	30,600	28,700	27,900	23,300	19,100	20,400	23,000	21,100	23,000	23,100	18,300	13,300	12,100	16,500	18,900	21,900	24,300	19,100	25,900	13,900	12,800	12,300	5,900	10,900	8,300	8,300	9,200	8,800	0	0	0
Net cash used in financing activities
-329,000	-420,000	-308,000	-386,000	-533,000	-383,000	-579,800	-363,700	-350,200	-363,000	-529,900	-737,200	-624,800	-733,800	187,000	203,600	195,000	736,600	187,300	249,500	159,100	-201,700	-225,700	-262,300	-139,100	-135,400	-196,700	-201,100	-226,200	-188,600	-202,300	-225,900	-201,000	-219,700	-188,200	85,600	43,900	-13,200	119,100	-94,500	112,900	44,800	0	0	0
Effect of exchange rate changes on cash
-13,000	-6,000	-31,000	-30,000	-34,000	-35,000	-10,600	16,300	27,100	36,000	-8,500	-12,900	-37,000	-31,700	-18,900	-34,400	2,700	-65,500	-70,600	-109,400	-134,000	-76,700	-51,300	39,100	45,200	25,200	42,700	7,600	-13,100	11,200	-12,900	-40,500	-16,300	-14,300	-10,100	41,400	20,500	-3,700	-400	-24,500	-7,000	13,000	0	0	0
Net increase (decrease) in cash
384,000	93,000	554,000	348,000	107,000	194,000	-52,600	-25,400	51,300	101,000	-104,400	-107,900	-33,900	-134,000	-514,600	-612,900	-643,200	-220,100	250,500	336,500	227,400	-141,700	-137,600	-45,600	112,700	223,800	298,900	335,100	298,500	356,100	244,500	109,500	174,000	-90,300	-55,200	184,900	-151,200	92,500	173,400	-69,400	283,300	254,000	0	0	0
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid during the period for:
Interest
75,000	72,000	75,000	78,000	79,000	84,000	86,900	90,700	91,100	92,000	98,900	95,800	102,900	100,300	87,900	90,200	86,700	70,200	67,700	49,000	44,200	49,500	50,400	50,800	56,200	50,400	49,900	50,000	56,100	57,000	64,000	64,100	69,100	68,500	68,100	64,400	59,900	53,400	52,800	50,100	63,500	68,800	0	0	0
Income taxes, net of refunds
218,000	243,000	197,000	219,000	304,000	316,000	327,100	314,000	281,500	280,000	274,300	308,800	294,600	300,500	301,900	251,700	218,200	183,800	180,400	180,700	206,900	229,700	232,600	234,900	231,200	252,900	234,500	214,400	206,000	158,900	180,900	184,800	174,100	175,500	154,400	135,800	117,400	83,100	64,500	67,000	75,700	60,300	0	0	0
Liabilities assumed from business acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,200	3,200	3,200	3,200	0	0	0	0	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-
Non-cash financing transactions [Abstract]
Debt assumed from business acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	40,300	40,300	40,300	33,300	0	0	0	0	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Restricted common stock, issued to employees and nonemployees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Performance share plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0