BorgWarner Inc. Files 2024 10-K

TL;DR

BorgWarner dropped its 2024 10-K. Full financials out now.

AI Summary

BorgWarner Inc. filed its 2024 10-K on February 6, 2025, detailing its financial performance for the fiscal year ending December 31, 2024. The company, a major player in the motor vehicle parts and accessories industry, is incorporated in Delaware and headquartered in Auburn Hills, Michigan. The filing provides comprehensive financial statements and disclosures as required by the SEC.

Why It Matters

This filing provides investors and analysts with a detailed look at BorgWarner's financial health, operational performance, and strategic outlook for the past fiscal year, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a standard annual financial filing (10-K) and does not inherently present new risks beyond those typically associated with publicly traded companies.

Key Players & Entities

• BORGWARNER INC (company) — Filer
• 2024 (date) — Fiscal Year End
• December 31, 2024 (date) — Fiscal Year End
• February 6, 2025 (date) — Filing Date
• Auburn Hills, Michigan (location) — Company Headquarters
• MOTOR VEHICLE PARTS & ACCESSORIES (industry) — Standard Industrial Classification

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share BWA New York Stock Exchange
• $3 billion — through planned dispositions of between $3 billion and $4 billion of annual revenue. In Ju
• $4 billion — dispositions of between $3 billion and $4 billion of annual revenue. In June 2023, the Co
• $2.3 b — ny's eProduct revenue was approximately $2.3 billion, $2.0 billion and $1.5 billion, r
• $2.0 billion — revenue was approximately $2.3 billion, $2.0 billion and $1.5 billion, respectively, or 17%,
• $1.5 b — ximately $2.3 billion, $2.0 billion and $1.5 billion, respectively, or 17%, 14% and 12
• $11.8 b — onal products revenue was approximately $11.8 billion, $12.2 billion and $11.2 billion,
• $12.2 billion — evenue was approximately $11.8 billion, $12.2 billion and $11.2 billion, respectively, or 83%
• $11.2 b — mately $11.8 billion, $12.2 billion and $11.2 billion, respectively, or 83%, 86% and 88
• $764 m — onsolidated sales totaled approximately $764 million, $732 million, and $734 million f
• $732 m — les totaled approximately $764 million, $732 million, and $734 million for the years e
• $734 million — imately $764 million, $732 million, and $734 million for the years ended December 31, 2024,

Filing Documents

• bwa-20241231.htm (10-K) — 3878KB
• managementincentiveplanrev.htm (EX-10.28) — 38KB
• ex-1034amendmenttoflissald.htm (EX-10.34) — 8KB
• all-lglxlegx011_eninsidert.htm (EX-19.1) — 82KB
• a20241231ex211-subsidiarie.htm (EX-21.1) — 80KB
• a20241231ex-231x10k.htm (EX-23.1) — 2KB
• a20241231ex-311x10k.htm (EX-31.1) — 10KB
• a20241231ex-312x10k.htm (EX-31.2) — 10KB
• a20241231ex-321x10k.htm (EX-32.1) — 7KB
• bwa-20241231_g1.jpg (GRAPHIC) — 118KB
• image_1a.jpg (GRAPHIC) — 48KB
• 0000908255-25-000007.txt ( ) — 23176KB
• bwa-20241231.xsd (EX-101.SCH) — 121KB
• bwa-20241231_cal.xml (EX-101.CAL) — 189KB
• bwa-20241231_def.xml (EX-101.DEF) — 743KB
• bwa-20241231_lab.xml (EX-101.LAB) — 1438KB
• bwa-20241231_pre.xml (EX-101.PRE) — 1161KB
• bwa-20241231_htm.xml (XML) — 4839KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 17 Item 1B . Unresolved Staff Comments 29 Item 1C . Cybersecurity 30 Item 2.

Properties

Properties 31 Item 3.

Legal Proceedings

Legal Proceedings 31 Item 4 . Mine Safety Disclosures 31 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 Item 6 . [Reserved] 34 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 60 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 61 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 131 Item 9A.

Controls and Procedures

Controls and Procedures 131 Item 9B. Other Information 132 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 132 PART III. Item 10. Directors, Executive Officers and Corporate Governance 132 Item 11.

Executive Compensation

Executive Compensation 133 Item 12 .

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 133 Item 13. Certain Relationships and Related Transactions and Director Independence 133 Item 14. Principal Accountant Fees and Services 133 PART IV. Item 15. Exhibits and Financial Statement Schedules 133 Item 16. Form 10-K Summary 134 3 Table of Contents CAUTIONARY STATEMENTS FOR FORWARD-LOOKING INFORMATION

Business

Item 1. Business BorgWarner Inc. (collectively with its consolidated subsidiaries, the "Company" or "BorgWarner") is a Delaware corporation incorporated in 1987. The Company is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. BorgWarner's products help improve vehicle performance, propulsion efficiency, stability and air quality. The Company manufactures and sells these products worldwide, primarily to original equipment manufacturers ("OEMs") of light vehicles (passenger cars, sport-utility vehicles ("SUVs"), vans and light trucks). The Company's products are also sold to OEMs of commercial vehicles (medium-duty trucks, heavy-duty trucks and buses) and off-highway vehicles (agricultural and construction machinery and marine applications). The Company also manufactures and sells its products to certain tier one vehicle systems suppliers and into the aftermarket for light, commercial and off-highway vehicles. The Company operates manufacturing facilities serving customers in Europe, the Americas and Asia and is an original equipment supplier to nearly every major automotive OEM in the world. BorgWarner Strategy In 2021, the Company announced its accelerated electrification strategy. There were three primary elements of the strategy: (1) profitably scaling organic growth in electric vehicles ("EVs"); (2) executing mergers and acquisitions that expand our EV products; and (3) optimizing our combustion portfolio through planned dispositions of between $3 billion and $4 billion of annual revenue. In June 2023, the Company announced the next phase of its strategy, which focused on advancing its position as a leader in eProducts (all products utilized on or for EVs plus those same products and components that are included in hybrid powertrains whose underlying technologies are adaptable to those used in or for EVs), while maximizing the value of its combustion portfolio or Foundational products (all pro

View Full Filing

View this 10-K filing on SEC EDGAR