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STOCKHOLDERS' EQUITY | 6 Months Ended
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Jun. 30, 2024
Stockholders' Equity Note [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS' EQUITY The changes of the Stockholders’ Equity items during the three and six months ended June 30, 2024 and 2023, 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, March 31, 2024 | $ | 3 |  |  | $ | 2,632 |  |  | $ | (2,236) |  |  | $ | 6,325 |  |  | $ | (883) |  |  | $ | 201 |  |  | $ | 6,042 |
Dividends declared ($0.11 per share*) | — |  |  | — |  |  | — |  |  | (25) |  |  | — |  |  | (20) |  |  | (45) |
Issuance for executive stock plan, net of tax | — |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |
Issuance of restricted stock, net of tax | — |  |  | 10 |  |  | (1) |  |  | — |  |  | — |  |  | — |  |  | 9 |
Net earnings | — |  |  | — |  |  | — |  |  | 303 |  |  | — |  |  | 14 |  |  | 317 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (55) |  |  | (3) |  |  | (58) |
Spin-Off of PHINIA | — |  |  | — |  |  | — |  |  | 17 |  |  | — |  |  | — |  |  | 17 |
Balance, June 30, 2024 | $ | 3 |  |  | $ | 2,645 |  |  | $ | (2,237) |  |  | $ | 6,620 |  |  | $ | (938) |  |  | $ | 192 |  |  | $ | 6,285 |
| 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, March 31, 2023 | $ | 3 |  |  | $ | 2,661 |  |  | $ | (2,031) |  |  | $ | 7,632 |  |  | $ | (824) |  |  | $ | 238 |  |  | $ | 7,679 |
Dividends declared ($0.17 per share*) | — |  |  | — |  |  | — |  |  | (40) |  |  | — |  |  | — |  |  | (40) |
Issuance for executive stock plan, net of tax | — |  |  | 10 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10 |
Issuance of restricted stock, net of tax | — |  |  | (12) |  |  | 24 |  |  | — |  |  | — |  |  | — |  |  | 12 |
Purchase of noncontrolling interest | — |  |  | (2) |  |  | — |  |  | — |  |  | — |  |  | (13) |  |  | (15) |
Net earnings | — |  |  | — |  |  | — |  |  | 204 |  |  | — |  |  | 18 |  |  | 222 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (74) |  |  | (13) |  |  | (87) |
Balance, June 30, 2023 | $ | 3 |  |  | $ | 2,657 |  |  | $ | (2,007) |  |  | $ | 7,796 |  |  | $ | (898) |  |  | $ | 230 |  |  | $ | 7,781 |
| 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, 2023 | $ | 3 |  |  | $ | 2,689 |  |  | $ | (2,188) |  |  | $ | 6,152 |  |  | $ | (828) |  |  | $ | 238 |  |  | $ | 6,066 |
Dividends declared ($0.22 per share*) | — |  |  | — |  |  | — |  |  | (50) |  |  | — |  |  | (67) |  |  | (117) |
Issuance for executive stock plan, net of tax | — |  |  | (22) |  |  | 21 |  |  | — |  |  | — |  |  | — |  |  | (1) |
Issuance of restricted stock, net of tax | — |  |  | (22) |  |  | 30 |  |  | — |  |  | — |  |  | — |  |  | 8 |
Purchase of treasury stock | — |  |  | — |  |  | (100) |  |  | — |  |  | — |  |  | — |  |  | (100) |
Net earnings | — |  |  | — |  |  | — |  |  | 509 |  |  | — |  |  | 29 |  |  | 538 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (110) |  |  | (8) |  |  | (118) |
Spin-Off of PHINIA | — |  |  | — |  |  | — |  |  | 9 |  |  | — |  |  | — |  |  | 9 |
Balance, June 30, 2024 | $ | 3 |  |  | $ | 2,645 |  |  | $ | (2,237) |  |  | $ | 6,620 |  |  | $ | (938) |  |  | $ | 192 |  |  | $ | 6,285 |
| 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 ($0.34 per share*) | — |  |  | — |  |  | — |  |  | (79) |  |  | — |  |  | (58) |  |  | (137) |
Issuance for executive stock plan, net of tax | — |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Issuance of restricted stock, net of tax | — |  |  | (16) |  |  | 20 |  |  | — |  |  | — |  |  | — |  |  | 4 |
Purchase of noncontrolling interest | — |  |  | (2) |  |  | — |  |  | — |  |  | — |  |  | (13) |  |  | (15) |
Net earnings | — |  |  | — |  |  | — |  |  | 421 |  |  | — |  |  | 31 |  |  | 452 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | (22) |  |  | (14) |  |  | (36) |
Balance, June 30, 2023 | $ | 3 |  |  | $ | 2,657 |  |  | $ | (2,007) |  |  | $ | 7,796 |  |  | $ | (898) |  |  | $ | 230 |  |  | $ | 7,781 |
__________________________________ * Per share dividends amount declared relate to BorgWarner common stock.

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