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Balance Sheet Information | 12 Months Ended
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Dec. 31, 2017
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet information | BALANCE SHEET INFORMATION Detailed balance sheet data is as follows:
| December 31,
(millions of dollars) | 2017 |  | 2016
Receivables, net: |  |  |  |  |
Customers | $ | 1,735.7 |  |  | $ | 1,448.3 |
Indirect taxes | 152.1 |  |  | 99.1 |
Other | 136.8 |  |  | 144.8 |
Gross receivables | 2,024.6 |  |  | 1,692.2 |
Bad debt allowance(a) | (5.7 | ) |  | (2.9 | )
Total receivables, net | $ | 2,018.9 |  |  | $ | 1,689.3 |
Inventories, net: |  |  |  |  |
Raw material and supplies | $ | 469.7 |  |  | $ | 378.6 |
Work in progress | 126.7 |  |  | 102.9 |
Finished goods | 183.0 |  |  | 174.9 |
FIFO inventories | 779.4 |  |  | 656.4 |
LIFO reserve | (13.1 | ) |  | (15.2 | )
Total inventories, net | $ | 766.3 |  |  | $ | 641.2 |
Prepayments and other current assets: |  |  |  |  |
Prepaid tooling | $ | 81.9 |  |  | $ | 77.5 |
Prepaid taxes | 5.3 |  |  | 8.0 |
Other | 58.2 |  |  | 51.9 |
Total prepayments and other current assets | $ | 145.4 |  |  | $ | 137.4 |
Property, plant and equipment, net: |  |  |  |  |
Land and land use rights | $ | 115.7 |  |  | $ | 111.0 |
Buildings | 783.5 |  |  | 670.6 |
Machinery and equipment | 2,734.4 |  |  | 2,371.2 |
Capital leases | 1.5 |  |  | 3.9 |
Construction in progress | 410.5 |  |  | 338.2 |
Property, plant and equipment, gross | 4,045.6 |  |  | 3,494.9 |
Accumulated depreciation | (1,391.7 | ) |  | (1,137.5 | )
Property, plant & equipment, net, excluding tooling | 2,653.9 |  |  | 2,357.4 |
Tooling, net of amortization | 209.9 |  |  | 144.4 |
Property, plant & equipment, net | $ | 2,863.8 |  |  | $ | 2,501.8 |
Investments and other long-term receivables: |  |  |  |  |
Investment in equity affiliates | $ | 239.6 |  |  | $ | 218.9 |
Other long-term receivables | 307.8 |  |  | 283.3 |
Total investments and other long-term receivables | $ | 547.4 |  |  | $ | 502.2 |
Other non-current assets: |  |  |  |  |
Deferred income taxes | $ | 121.2 |  |  | $ | 424.0 |
Asbestos insurance asset | 127.7 |  |  | 178.7 |
Other | 209.8 |  |  | 150.7 |
Total other non-current assets | $ | 458.7 |  |  | $ | 753.4 |
| December 31,
(millions of dollars) | 2017 |  | 2016
Accounts payable and accrued expenses: |  |  |  |  |
Trade payables | $ | 1,545.6 |  |  | $ | 1,259.4 |
Payroll and employee related | 239.7 |  |  | 206.4 |
Indirect taxes | 111.0 |  |  | 63.9 |
Product warranties | 69.0 |  |  | 63.9 |
Customer related | 75.7 |  |  | 52.8 |
Asbestos-related liability | 52.5 |  |  | 51.7 |
Interest | 22.9 |  |  | 22.9 |
Retirement related | 17.2 |  |  | 18.1 |
Dividends payable to noncontrolling shareholders | 17.7 |  |  | 15.7 |
Unrecognized tax benefits | 0.8 |  |  | 15.5 |
Insurance | 10.1 |  |  | 7.8 |
Severance | 5.8 |  |  | 6.4 |
Derivatives | 5.0 |  |  | 1.2 |
Other | 97.3 |  |  | 61.6 |
Total accounts payable and accrued expenses | $ | 2,270.3 |  |  | $ | 1,847.3 |
Other non-current liabilities: |  |  |  |  |
Deferred income taxes | $ | 61.4 |  |  | $ | 54.2 |
Deferred revenue | 52.4 |  |  | 33.5 |
Product warranties | 42.5 |  |  | 31.4 |
Other | 199.2 |  |  | 156.6 |
Total other non-current liabilities | $ | 355.5 |  |  | $ | 275.7 |
(a) Bad debt allowance: | 2017 |  | 2016 |  | 2015
Beginning balance, January 1 | $ | (2.9 | ) |  | $ | (1.9 | ) |  | $ | (2.3 | )
Provision | (2.7 | ) |  | (3.2 | ) |  | (0.5 | )
Write-offs | 0.1 |  |  | 0.2 |  |  | 0.7 |
Business divestiture | — |  |  | 2.0 |  |  | — |
Translation adjustment and other | (0.2 | ) |  | — |  |  | 0.2 |
Ending balance, December 31 | $ | (5.7 | ) |  | $ | (2.9 | ) |  | $ | (1.9 | )
As of December 31, 2017 and December 31, 2016, accounts payable of $106.5 million and $85.3 million, respectively, were related to property, plant and equipment purchases. Interest costs capitalized for the years ended December 31, 2017, 2016 and 2015 were $19.7 million, $14.1 million and $16.5 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 $20.2 million, $34.3 million and $18.0 million in calendar years ended December 31, 2017, 2016 and 2015, 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, 2017, 2016 and 2015 (unaudited):
|  |  | November 30,
(millions of dollars) |  |  | 2017 |  | 2016
Balance sheets: |  |  |  |  |  |  |
Cash and securities |  |  | $ | 104.6 |  |  | $ | 98.6 |
Current assets, including cash and securities |  |  | 289.2 |  |  | 256.3 |
Non-current assets |  |  | 231.9 |  |  | 194.5 |
Current liabilities |  |  | 154.9 |  |  | 122.6 |
Non-current liabilities |  |  | 68.1 |  |  | 48.2 |
Total equity |  |  | 298.1 |  |  | 280.0 |
| Year Ended November 30,
(millions of dollars) | 2017 |  | 2016 |  | 2015
Statements of operations: |  |  |  |  |  |  |  |
Net sales | $ | 669.6 |  |  | $ | 601.8 |  |  | $ | 519.0 |
Gross profit | 149.2 |  |  | 134.1 |  |  | 118.6 |
Net earnings | 85.2 |  |  | 71.7 |  |  | 73.3 |
NSK-Warner had no debt outstanding as of November 30, 2017 and 2016. Purchases by the Company from NSK-Warner were $12.3 million, $23.9 million and $23.0 million for the years ended December 31, 2017, 2016 and 2015, respectively.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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