XML 149 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
BorgWarner Inc. and Consolidated Subsidiaries Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
OPERATING      
Net earnings $ 984.6 $ 483.3 $ 636.7
Adjustments to reconcile net earnings to net cash flows from operations:      
Asset impairment and loss on divestiture 25.6 71.0 127.1
Asbestos-related adjustments 22.8 0.0 (48.6)
Gain on sale of building (19.4) 0.0 0.0
Depreciation and amortization 431.3 407.8 391.4
Stock-based compensation expense 52.9 52.7 43.6
Restructuring expense, net of cash paid 33.0 27.0 12.0
Deferred income tax (benefit) provision (57.2) 41.8 6.8
Tax reform adjustments to provision for income taxes (12.6) 273.5 0.0
Equity in affiliates’ earnings, net of dividends received, and other (15.0) (32.0) (17.0)
Net earnings adjusted for non-cash charges to operations 1,446.0 1,325.1 1,152.0
Changes in assets and liabilities:      
Receivables (42.9) (167.9) (137.5)
Inventories (53.3) (84.5) (36.5)
Prepayments and other current assets (18.7) 0.5 8.8
Accounts payable and accrued expenses (76.1) 232.8 134.9
Prepaid taxes and income taxes payable (84.7) (42.8) (14.2)
Other assets and liabilities (43.8) (82.9) (71.8)
Net cash provided by operating activities 1,126.5 1,180.3 1,035.7
INVESTING      
Capital expenditures, including tooling outlays (546.6) (560.0) (500.6)
Proceeds from sale of businesses, net of cash divested 0.0 0.0 85.8
Proceeds from asset disposals and other 36.0 4.5 10.6
Payments for businesses acquired, including restricted cash, net of cash acquired 0.0 (185.7) 0.0
Proceeds from (payments for) settlement of net investment hedges 2.1 (8.5) 0.0
Payments for venture capital investment (6.0) (2.6) 0.0
Net cash used in investing activities (514.5) (752.3) (404.2)
FINANCING      
Net decrease in notes payable (34.2) (88.3) (129.1)
Additions to debt, net of debt issuance costs 58.7 3.0 4.6
Repayments of debt, including current portion (65.7) (19.3) (193.6)
Payments for debt issuance cost 0.0 (2.4) 0.0
Proceeds from interest rate swap termination 0.0 0.0 8.9
Payments for purchase of treasury stock (150.0) (100.0) (288.0)
(Payments for) proceeds from stock-based compensation items (15.2) (2.1) 6.7
Dividends paid to BorgWarner stockholders (141.5) (124.1) (113.4)
Dividends paid to noncontrolling stockholders (35.5) (29.3) (29.9)
Net cash used in financing activities (383.4) (362.5) (733.8)
Effect of exchange rate changes on cash (34.5) 36.1 (31.7)
Net increase (decrease) in cash 194.1 101.6 (134.0)
Cash at beginning of year 545.3 443.7 577.7
Cash at end of year 739.4 545.3 443.7
Net Cash Paid During Period For [Abstract]      
Interest 83.6 92.0 100.3
Income taxes, net of refunds 315.7 279.8 300.5
Non Cash Investing Transactions [Abstract]      
Liabilities assumed from business acquired $ 0.0 $ 18.0 $ 0.0