BorgWarner Inc. Files Q3 2024 10-Q Report

Ticker: BWA · Form: 10-Q · Filed: 2024-10-31T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, financials, quarterly-report, automotive

TL;DR

BorgWarner's Q3 2024 10-Q is in. Check financials.

AI Summary

BorgWarner Inc. reported its third-quarter results for the period ending September 30, 2024. The company's financial performance for the quarter and year-to-date is detailed in this 10-Q filing. Specific financial figures and operational details are provided for the reporting period.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for BorgWarner Inc., crucial for understanding the company's current health and future prospects in the automotive parts sector.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not contain new or unusual risk-related information.

Key Numbers

2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
2024-01-01 — Reporting Period Start Date (Indicates the beginning of the fiscal year-to-date period.)
2023-12-31 — Previous Year End Date (Provides a comparison point to the prior fiscal year-end.)
2024-07-01 — Q3 Start Date (Marks the beginning of the third fiscal quarter.)
2023-07-01 — Prior Year Q3 Start Date (Marks the beginning of the third fiscal quarter of the previous year for comparison.)

Key Players & Entities

BORGWARNER INC (company) — Filer
20240930 (date) — Conformed Period of Report
20241031 (date) — Filed as of Date
AUBURN HILLS (location) — Business Address City
Phinia (company) — Segment Discontinued Operations

FAQ

What is the reporting period for this 10-Q filing?

The conformed period of report is 20240930, meaning the filing covers the period up to September 30, 2024.

When was this 10-Q filing submitted?

The filing was submitted on 20241031, as indicated by the 'FILED AS OF DATE'.

What is BorgWarner Inc.'s primary business classification?

BorgWarner Inc. is classified under 'MOTOR VEHICLE PARTS & ACCESSORIES' with SIC code 3714.

Does the filing mention any discontinued operations?

Yes, the filing references 'us-gaap:SegmentDiscontinuedOperationsMember' and specifically 'bwa:PhiniaMember' for the periods 2024-07-01 to 2024-09-30 and 2023-07-01 to 2023-09-30.

What is BorgWarner's state of incorporation?

BorgWarner Inc. is incorporated in Delaware (DE).

From the Filing

0000908255-24-000043.txt : 20241031 0000908255-24-000043.hdr.sgml : 20241031 20241031125035 ACCESSION NUMBER: 0000908255-24-000043 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 119 CONFORMED PERIOD OF REPORT: 20240930 FILED AS OF DATE: 20241031 DATE AS OF CHANGE: 20241031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BORGWARNER INC CENTRAL INDEX KEY: 0000908255 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 133404508 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-12162 FILM NUMBER: 241414140 BUSINESS ADDRESS: STREET 1: 3850 HAMLIN RD. CITY: AUBURN HILLS STATE: MI ZIP: 48326 BUSINESS PHONE: 2487549200 MAIL ADDRESS: STREET 1: 3850 HAMLIN RD. CITY: AUBURN HILLS STATE: MI ZIP: 48326 FORMER COMPANY: FORMER CONFORMED NAME: BORG WARNER AUTOMOTIVE INC DATE OF NAME CHANGE: 19930628 10-Q 1 bwa-20240930.htm 10-Q bwa-20240930 0000908255 FALSE 2024 Q3 12/31 0.2 P1Y http://fasb.org/us-gaap/2024#SellingGeneralAndAdministrativeExpense http://fasb.org/us-gaap/2024#SellingGeneralAndAdministrativeExpense http://fasb.org/us-gaap/2024#SellingGeneralAndAdministrativeExpense http://fasb.org/us-gaap/2024#SellingGeneralAndAdministrativeExpense xbrli:shares iso4217:USD iso4217:USD xbrli:shares bwa:segment xbrli:pure iso4217:EUR iso4217:CNY iso4217:CHF bwa:reportingUnit iso4217:GBP iso4217:THB iso4217:JPY bwa:site 0000908255 2024-01-01 2024-09-30 0000908255 us-gaap:CommonStockMember 2024-01-01 2024-09-30 0000908255 us-gaap:SeniorNotesMember 2024-01-01 2024-09-30 0000908255 2024-10-25 0000908255 2024-09-30 0000908255 2023-12-31 0000908255 2024-07-01 2024-09-30 0000908255 2023-07-01 2023-09-30 0000908255 2023-01-01 2023-09-30 0000908255 us-gaap:SegmentDiscontinuedOperationsMember bwa:PhiniaMember 2024-07-01 2024-09-30 0000908255 us-gaap:SegmentDiscontinuedOperationsMember bwa:PhiniaMember 2023-07-01 2023-09-30 0000908255 us-gaap:SegmentDiscontinuedOperationsMember bwa:PhiniaMember 2024-01-01 2024-09-30 0000908255 us-gaap:SegmentDiscontinuedOperationsMember bwa:PhiniaMember 2023-01-01 2023-09-30 0000908255 2022-12-31 0000908255 2023-09-30 0000908255 srt:RestatementAdjustmentMember bwa:BorgWarnerMember 2024-01-01 2024-09-30 0000908255 srt:RestatementAdjustmentMember bwa:BorgWarnerMember 2023-01-01 2023-12-31 0000908255 2023-07-03 0000908255 2023-07-03 2023-07-03 0000908255 bwa:EldorCorporationsElectricHybridSystemsBusinessMember 2023-12-01 0000908255 bwa:EldorCorporationsElectricHybridSystemsBusinessMember bwa:DevelopedTechnologyMember 2023-12-01 0000908255 bwa:EldorCorporationsElectricHybridSystemsBusinessMember us-gaap:CustomerRelationshipsMember 2023-12-01 0000908255 bwa:HubeiSurpassSunElectricChargingBusinessMember 2023-03-01 0000908255 bwa:HubeiSurpassSunElectricChargingBusinessMember 2023-03-01 2023-03-01 0000908255 bwa:HubeiSurpassSunElectricChargingBusinessMember us-gaap:OtherCurrentLiabilitiesMember 2024-09-30 0000908255 bwa:HubeiSurpassSunElectricChargingBusinessMember 2023-01-01 2023-12-31 0000908255 bwa:HubeiSurpassSunElectricChargingBusinessMember 2024-01-01 2024-09-30 0000908255 bwa:HubeiSurpassSunElectricChargingBusinessMember us-gaap:OtherCurrentLiabilitiesMember 2024-01-01 2024-09-30 0000908255 bwa:HubeiSurpassSunElectricChargingBusinessMember 2024-04-01 2024-06-30 0000908255 bwa:HubeiSurpassSunElectricChargingBusinessMember bwa:DevelopedTechnologyMember 2023-03-01 0000908255 bwa:HubeiSurpassSunElectricChargingBusinessMember us-gaap:CustomerRelationshipsMember 2023-03-01 0000908255 bwa:DrivetekAGMember 2022-12-01 0000908255 bwa:DrivetekAGMember 2022-12-01 2022-12-01 0000908255 bwa:DrivetekAGMember 2024-09-30 0000908255 bwa:RhombusEnergySolutionsMember 2022-07-29 0000908255 bwa:RhombusEnergySolutionsMember 2022-07-29 2022-07-29 0000908255 bwa:RhombusEnergySolutionsMember bwa:EmployeeRetentionPaymentMember 2022-07-29 0000908255 bwa:SantrollAutomotiveComponentsMember 2022-03-31 0000908255