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STOCKHOLDERS' EQUITY | 9 Months Ended
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Sep. 30, 2023
Stockholders' Equity Note [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS' EQUITY The changes of the Stockholders’ Equity items during the three and nine months ended September 30, 2023 and 2022, are as follows:
| BorgWarner Inc. stockholders' equity
(in millions) | Issued common stock |  | Capital in excess of par value |  | Treasury stock |  | Retained earnings |  | Accumulated other comprehensive income (loss) |  | Noncontrolling interests |  | Total
Balance, June 30, 2023 | $ | 3 |  |  | $ | 2,657 |  |  | $ | (2,007) |  |  | $ | 7,796 |  |  | $ | (898) |  |  | $ | 230 |  |  | $ | 7,781 |
Dividends declared ($0.11 per share*) | — |  |  | — |  |  | — |  |  | (26) |  |  | — |  |  | (5) |  |  | (31) |
Net issuance for executive stock plan | — |  |  | 10 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10 |
Net issuance of restricted stock | — |  |  | 13 |  |  | (3) |  |  | — |  |  | — |  |  | — |  |  | 10 |
Net earnings | — |  |  | — |  |  | — |  |  | 50 |  |  | — |  |  | 18 |  |  | 68 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (4) |  |  | (5) |
Spin-Off of PHINIA | — |  |  | — |  |  | — |  |  | (1,810) |  |  | (16) |  |  | — |  |  | (1,826) |
Balance, September 30, 2023 | $ | 3 |  |  | $ | 2,680 |  |  | $ | (2,010) |  |  | $ | 6,010 |  |  | $ | (915) |  |  | $ | 239 |  |  | $ | 6,007 |
| BorgWarner Inc. stockholders' equity
(in millions) | Issued common stock |  | Capital in excess of par value |  | Treasury stock |  | Retained earnings |  | Accumulated other comprehensive income (loss) |  | Noncontrolling interests |  | Total
Balance, June 30, 2022 | $ | 3 |  |  | $ | 2,633 |  |  | $ | (1,936) |  |  | $ | 7,005 |  |  | $ | (816) |  |  | $ | 282 |  |  | $ | 7,171 |
Dividends declared ($0.17 per share*) | — |  |  | — |  |  | — |  |  | (39) |  |  | — |  |  | (15) |  |  | (54) |
Net issuance for executive stock plan | — |  |  | 6 |  |  | (1) |  |  | — |  |  | — |  |  | — |  |  | 5 |
Net issuance of restricted stock | — |  |  | 11 |  |  | (2) |  |  | — |  |  | — |  |  | — |  |  | 9 |
Purchase of treasury stock | — |  |  | — |  |  | (100) |  |  | — |  |  | — |  |  | — |  |  | (100) |
Net earnings | — |  |  | — |  |  | — |  |  | 273 |  |  | — |  |  | 19 |  |  | 292 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (262) |  |  | (24) |  |  | (286) |
Balance, September 30, 2022 | $ | 3 |  |  | $ | 2,650 |  |  | $ | (2,039) |  |  | $ | 7,239 |  |  | $ | (1,078) |  |  | $ | 262 |  |  | $ | 7,037 |
| BorgWarner Inc. stockholders' equity
(in millions) | Issued common stock |  | Capital in excess of par value |  | Treasury stock |  | Retained earnings |  | Accumulated other comprehensive income (loss) |  | Noncontrolling interests |  | Total
Balance, December 31, 2022 | $ | 3 |  |  | $ | 2,675 |  |  | $ | (2,032) |  |  | $ | 7,454 |  |  | $ | (876) |  |  | $ | 284 |  |  | $ | 7,508 |
Dividends declared ($0.45 per share*) | — |  |  | — |  |  | — |  |  | (105) |  |  | — |  |  | (63) |  |  | (168) |
Net issuance for executive stock plan | — |  |  | 10 |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 15 |
Net issuance of restricted stock | — |  |  | (3) |  |  | 17 |  |  | — |  |  | — |  |  | — |  |  | 14 |
Purchase of noncontrolling interest | — |  |  | (2) |  |  | — |  |  | — |  |  | — |  |  | (13) |  |  | (15) |
Net earnings | — |  |  | — |  |  | — |  |  | 471 |  |  | — |  |  | 49 |  |  | 520 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (23) |  |  | (18) |  |  | (41) |
Spin-Off of PHINIA | — |  |  | — |  |  | — |  |  | (1,810) |  |  | (16) |  |  | — |  |  | (1,826) |
Balance, September 30, 2023 | $ | 3 |  |  | $ | 2,680 |  |  | $ | (2,010) |  |  | $ | 6,010 |  |  | $ | (915) |  |  | $ | 239 |  |  | $ | 6,007 |
| BorgWarner Inc. stockholders' equity
(in millions) | Issued common stock |  | Capital in excess of par value |  | Treasury stock |  | Retained earnings |  | Accumulated other comprehensive income (loss) |  | Noncontrolling interests |  | Total
Balance, December 31, 2021 | $ | 3 |  |  | $ | 2,637 |  |  | $ | (1,812) |  |  | $ | 6,671 |  |  | $ | (551) |  |  | $ | 314 |  |  | $ | 7,262 |
Dividends declared ($0.51 per share*) | — |  |  | — |  |  | — |  |  | (121) |  |  | — |  |  | (64) |  |  | (185) |
Net issuance for executive stock plan | — |  |  | 6 |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | 10 |
Net issuance of restricted stock | — |  |  | 6 |  |  | 9 |  |  | — |  |  | — |  |  | — |  |  | 15 |
Purchase/sale of noncontrolling interest | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | (4) |  |  | (3) |
Purchase of treasury stock | — |  |  | — |  |  | (240) |  |  | — |  |  | — |  |  | — |  |  | (240) |
Net earnings | — |  |  | — |  |  | — |  |  | 689 |  |  | — |  |  | 58 |  |  | 747 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (527) |  |  | (42) |  |  | (569) |
Balance, September 30, 2022 | $ | 3 |  |  | $ | 2,650 |  |  | $ | (2,039) |  |  | $ | 7,239 |  |  | $ | (1,078) |  |  | $ | 262 |  |  | $ | 7,037 |
__________________________________ * Per share dividends amount declared relate to BorgWarner common stock.

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