BorgWarner Inc. – Company Information
|Headquarters||350 Hamlin Road, Auburn Hills, Michigan 48326, USA|
|CEO and President||James R. Verrier|
|CFO||Ronald T. Hundzinki|
|Founder||Merger of Warner Gear and Borg & Beck|
|NYSE stock symbol||BWA|
|Revenue||$8.305 billion (2014)|
|Net income||$687.5 million (2014)|
|Earnings per share||$2.86 USD (2014)|
|Corporation contact number:||248-754-9200|
BorgWarner Inc. is a multinational leader in providing powertrain solutions.
It is based in Auburn Hills, Michigan, USA, with a team of 22,000 employees.
BorgWarner operates more than 60 manufacturing facilities across 18 countries in North America, Europe, and Asia.
The company is comprised of two main groups:
The Engine Group – develops air management strategies and products, including: engine timing systems, boosting systems, ignition systems, air and noise management, cooling and controls.
The Drivetrain Group – develops transmission and all-wheel drive technology and interactive control systems and strategies for all types of torque management.
Its products are primarily sold to original equipment manufacturers (“OEMs”) of light vehicles (passenger cars) sport-utility vehicles (“SUVs”), vans and light trucks.
The history of the company traces back to the Borg-Warner Corporation, which was formed in 1928 following the merger of Warner Gear and Borg & Beck. The company was well known for supplying Warner Gear overdrive units for cars that were produced in the 1930s up to the 1970s.
BorgWarner Inc. was incorporated in 1987.
|Income statement data (in $ millions)||2014*||2013*|
|Cost of sales||$6,548.7||$5,879.1|
|Selling, general and administrative expenses||$698.9||$639.7|
|Earnings before income taxes and non-controlling interest||$980.1||$869.3|
|Provision for income taxes||$292.6||$218.3|
|Net earnings attributable to BorgWarner Inc.||$655.8||$624.3|
|Balance sheet data (in $ millions)|
|Long term debt||$716.3||$1,021.0|
|Total stockholders’ equity||$3,616.2||$3,560.6|
|Common share data (in $)|
|Earnings per Common Share – Basic||$2.89||$2.73|
|Earnings per Common Share – Diluted||$2.86||$2.70|
|Cash flow data (in $ millions)|
|Net cash provided by operating activities||$801.8||$718.8|
|Net cash used in investing activities||$(665.1)||$(384.8)|
|Net cash used in financing activities||$(201.7)||$(135.4)|
|Cash at beginning of year||$939.5||$715.7|
|Cash at end of year||$797.8||$939.5|
*Year Ended December 31
Source: “BorgWarner Inc. Form 10-K 2014”