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v3.7.0.1

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016
Income Statement [Abstract] |  |  |  |
Net sales | $ 2,389.7 | $ 2,329.2 | $ 4,796.7 | $ 4,597.8
Cost of sales | 1,875.5 | 1,832.5 | 3,765.2 | 3,636.8
Gross profit | 514.2 | 496.7 | 1,031.5 | 961.0
Selling, general and administrative expenses | 215.0 | 202.3 | 433.8 | 390.7
Other (income) expense, net | (0.3) | 25.0 | 5.5 | 36.7
Operating income | 299.5 | 269.4 | 592.2 | 533.6
Equity in affiliates’ earnings, net of tax | (14.4) | (10.1) | (24.1) | (19.2)
Interest income | (1.4) | (1.5) | (2.9) | (3.1)
Interest expense and finance charges | 18.0 | 21.4 | 36.0 | 42.7
Earnings before income taxes and noncontrolling interest | 297.3 | 259.6 | 583.2 | 513.2
Provision for income taxes | 76.2 | 84.2 | 162.5 | 164.6
Net earnings | 221.1 | 175.4 | 420.7 | 348.6
Net earnings attributable to the noncontrolling interest, net of tax | 9.1 | 11.0 | 19.5 | 20.1
Net earnings attributable to BorgWarner Inc. | $ 212.0 | $ 164.4 | $ 401.2 | $ 328.5
Earnings per share — basic | $ 1.01 | $ 0.76 | $ 1.90 | $ 1.52
Earnings per share — diluted | $ 1.00 | $ 0.76 | $ 1.89 | $ 1.51
Weighted average shares outstanding (thousands): |  |  |  |
Basic | 210,572 | 215,735 | 211,084 | 216,562
Diluted | 211,478 | 216,663 | 211,857 | 217,401
Dividends declared per share | $ 0.14 | $ 0.13 | $ 0.28 | $ 0.26

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