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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2022
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The Company presents both basic and diluted earnings per share of common stock (“EPS”) amounts. Basic EPS is calculated by dividing net earnings attributable to BorgWarner Inc. by the weighted average shares of common stock outstanding during the reporting period. Diluted EPS is calculated by dividing net earnings attributable to BorgWarner Inc. by the weighted average shares of common stock and common stock equivalents outstanding during the reporting period. The dilutive impact of stock-based compensation is calculated using the treasury stock method. The treasury stock method assumes that the Company uses the assumed proceeds from the exercise of awards to repurchase common stock at the average market price during the period. The assumed proceeds under the treasury stock method include the purchase price that the grantee will pay in the future and compensation cost for future service that the Company has not yet recognized. The dilutive effects of performance-based stock awards described in Note 19, “Stock-Based Compensation,” to the Consolidated Financial Statements are included in the computation of diluted earnings per share at the level the related performance criteria are met through the respective balance sheet date. There were 0.8 million, 0.8 million and 0.2 million of performance share units excluded from the computation of the diluted earnings per share for the years ended December 31, 2022, 2021 and 2020, respectively, because the related performance criteria had not been met as of the balance sheet dates. As a result of the acquisition of Delphi Technologies, approximately 37 million shares were issued on October 1, 2020, which resulted in dilution of approximately 9 million shares on a year-to-date basis. The following table reconciles the numerators and denominators used to calculate basic and diluted earnings per share of common stock:
| Year Ended December 31,
(in millions except share and per share amounts) | 2022 |  | 2021 |  | 2020
Basic earnings per share: |  |  |  |  |
Net earnings attributable to BorgWarner Inc. | $ | 944 |  |  | $ | 537 |  |  | $ | 500 |
Weighted average shares of common stock outstanding | 235.5 |  |  | 238.1 |  |  | 213.0 |
Basic earnings per share of common stock | $ | 4.01 |  |  | $ | 2.25 |  |  | $ | 2.35 |
Diluted earnings per share: |  |  |  |  |
Net earnings attributable to BorgWarner Inc. | $ | 944 |  |  | $ | 537 |  |  | $ | 500 |
Weighted average shares of common stock outstanding | 235.5 |  |  | 238.1 |  |  | 213.0 |
Effect of stock-based compensation | 1.3 |  |  | 1.4 |  |  | 1.0 |
Weighted average shares of common stock outstanding including dilutive shares | 236.8 |  |  | 239.5 |  |  | 214.0 |
Diluted earnings per share of common stock | $ | 3.99 |  |  | $ | 2.24 |  |  | $ | 2.34 |
Antidilutive stock-based awards excluded from the calculation of diluted earnings per share | — |  |  | — |  |  | — |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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