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Balance Sheet Information | 12 Months Ended
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Dec. 31, 2015
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet information | BALANCE SHEET INFORMATION Detailed balance sheet data is as follows:
| December 31,
(millions of dollars) | 2015 |  | 2014
Receivables, net: |  |  |  |  |
Customers | $ | 1,423.6 |  |  | $ | 1,200.6 |
Other | 243.3 |  |  | 245.2 |
Gross receivables | 1,666.9 |  |  | 1,445.8 |
Bad debt allowance(a) | (1.9 | ) |  | (2.3 | )
Total receivables, net | $ | 1,665.0 |  |  | $ | 1,443.5 |
Inventories, net: |  |  |  |  |
Raw material and supplies | $ | 412.9 |  |  | $ | 319.5 |
Work in progress | 102.5 |  |  | 89.0 |
Finished goods | 222.4 |  |  | 115.5 |
FIFO inventories | 737.8 |  |  | 524.0 |
LIFO reserve | (14.2 | ) |  | (18.3 | )
Total inventories, net | $ | 723.6 |  |  | $ | 505.7 |
Prepayments and other current assets: |  |  |  |  |
Prepaid tooling | $ | 98.5 |  |  | $ | 72.5 |
Restricted cash | 12.3 |  |  | — |
Prepaid taxes | 11.9 |  |  | 17.2 |
Other | 46.3 |  |  | 40.5 |
Total prepayments and other current assets | $ | 169.0 |  |  | $ | 130.2 |
Property, plant and equipment, net: |  |  |  |  |
Land and land use rights | $ | 118.2 |  |  | $ | 107.0 |
Buildings | 661.7 |  |  | 677.8 |
Machinery and equipment | 2,154.3 |  |  | 1,940.3 |
Capital leases | 7.2 |  |  | 8.4 |
Construction in progress | 386.4 |  |  | 310.4 |
Property, plant and equipment, gross | 3,327.8 |  |  | 3,043.9 |
Accumulated depreciation | (1,036.8 | ) |  | (1,076.8 | )
Property, plant & equipment, net, excluding tooling | 2,291.0 |  |  | 1,967.1 |
Tooling, net of amortization | 157.1 |  |  | 126.8 |
Property, plant & equipment, net | $ | 2,448.1 |  |  | $ | 2,093.9 |
Investments and other long-term receivables: |  |  |  |  |
Investment in equity affiliates | $ | 200.1 |  |  | $ | 184.2 |
Other long-term receivables | 260.8 |  |  | 219.1 |
Total investments and other long-term receivables | $ | 460.9 |  |  | $ | 403.3 |
Other non-current assets: |  |  |  |  |
Deferred income taxes | $ | 213.5 |  |  | $ | 180.5 |
Product liability insurance asset | 108.5 |  |  | 111.8 |
Other | 173.7 |  |  | 110.9 |
Total other non-current assets | $ | 495.7 |  |  | $ | 403.2 |
| December 31,
(millions of dollars) | 2015 |  | 2014
Accounts payable and accrued expenses: |  |  |  |  |
Trade payables | $ | 1,225.6 |  |  | $ | 979.2 |
Payroll and employee related | 201.1 |  |  | 199.5 |
Product warranties | 70.6 |  |  | 91.9 |
Customer related | 55.7 |  |  | 58.1 |
Product liability | 47.7 |  |  | 47.4 |
Unrecognized tax benefits | 45.5 |  |  | — |
Severance | 29.4 |  |  | 43.9 |
Interest | 20.4 |  |  | 12.0 |
Retirement related | 20.1 |  |  | 20.0 |
Dividends payable to noncontrolling shareholders | 20.0 |  |  | 15.9 |
Derivatives | 19.1 |  |  | 2.4 |
Other | 111.2 |  |  | 60.0 |
Total accounts payable and accrued expenses | $ | 1,866.4 |  |  | $ | 1,530.3 |
Other non-current liabilities: |  |  |  |  |
Deferred income taxes | $ | 120.1 |  |  | $ | 46.8 |
Product liability | 60.8 |  |  | 64.4 |
Product warranties | 37.3 |  |  | 40.1 |
Deferred revenue | 36.6 |  |  | 37.8 |
Other | 160.4 |  |  | 136.9 |
Total other non-current liabilities | $ | 415.2 |  |  | $ | 326.0 |
(a) Bad debt allowance: | 2015 |  | 2014 |  | 2013
Beginning balance, January 1 | $ | (2.3 | ) |  | $ | (2.1 | ) |  | $ | (2.1 | )
Provision | (0.5 | ) |  | (0.6 | ) |  | (0.3 | )
Write-offs | 0.7 |  |  | 0.3 |  |  | 0.4 |
Translation adjustment and other | 0.2 |  |  | 0.1 |  |  | (0.1 | )
Ending balance, December 31 | $ | (1.9 | ) |  | $ | (2.3 | ) |  | $ | (2.1 | )
As of December 31, 2015 and December 31, 2014, accounts payable of $76.9 million and $58.4 million, respectively, were related to property, plant and equipment purchases. Interest costs capitalized for the years ended December 31, 2015, 2014 and 2013 were $16.5 million, $13.5 million and $11.9 million respectively. NSK-Warner KK ("NSK-Warner") The Company has a 50% interest in NSK-Warner, a joint venture based in Japan that manufactures automatic transmission components. The Company's share of the earnings reported by NSK-Warner is accounted for using the equity method of accounting. NSK-Warner is the joint venture partner with a 40% interest in the Drivetrain Segment's South Korean subsidiary, BorgWarner Transmission Systems Korea Ltd. Dividends from NSK-Warner were $18.0 million, $45.1 million and $31.0 million in calendar years ended December 31, 2015, 2014 and 2013, respectively. NSK-Warner has a fiscal year-end of March 31. The Company's equity in the earnings of NSK-Warner consists of the 12 months ended November 30. Following is summarized financial data for NSK-Warner, translated using the ending or periodic rates, as of and for the years ended November 30, 2015, 2014 and 2013 (unaudited):
| November 30, |  |
(millions of dollars) | 2015 |  | 2014 |  |
Balance sheets: |  |  |  |  |  |  |  |
Cash and securities | $ | 74.9 |  |  | $ | 65.6 |  |  |
Current assets, including cash and securities | 231.9 |  |  | 237.2 |  |  |
Non-current assets | 167.5 |  |  | 144.3 |  |  |
Current liabilities | 119.1 |  |  | 128.1 |  |  |
Non-current liabilities | 39.3 |  |  | 37.7 |  |  |
Total equity | 241.0 |  |  | 215.7 |  |  |
| Year Ended November 30,
(millions of dollars) | 2015 |  | 2014 |  | 2013
Statements of operations: |  |  |  |  |  |  |  |
Net sales | $ | 519.0 |  |  | $ | 546.4 |  |  | $ | 604.0 |
Gross profit | 118.6 |  |  | 124.5 |  |  | 126.6 |
Net earnings | 73.3 |  |  | 80.3 |  |  | 68.3 |
NSK-Warner had no debt outstanding as of November 30, 2015 and 2014. Purchases by the Company from NSK-Warner were $23.0 million, $21.3 million and $22.8 million for the years ended December 31, 2015, 2014 and 2013, respectively.

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