{"schema_version":"secwatch.filing_event.v1","accession":"0000908255-23-000036","form_type":"8-K","ticker":"BWA","cik":"0000908255","company_name":"BORGWARNER INC","filed_at":"2023-07-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.978267+00:00","generated_at":"2026-06-13T10:50:05.105108+00:00","sec_items":["2.01","1.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"BorgWarner completes PHINIA spin-off; pro forma 2022 EPS $2.75 vs $3.99","bullets":["Spin-off completed July 3, 2023; each BWA share received one PHIN share per five held.","Pro forma 2022 net sales $12,628M, net earnings $652M, diluted EPS $2.75.","Pro forma Q1 2023 net sales $3,383M, net earnings $166M, diluted EPS $0.71.","PHINIA to be reported as discontinued operations starting Q3 2023.","Distribution tax-free except for cash in lieu of fractional shares; PHIN trades under PHIN."],"urls":{"canonical":"https://secwatch.observer/filing/0000908255-23-000036","json":"https://secwatch.observer/filing/0000908255-23-000036.json","markdown":"https://secwatch.observer/filing/0000908255-23-000036.md","text":"https://secwatch.observer/filing/0000908255-23-000036.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/908255/000090825523000036/0000908255-23-000036-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/908255/000090825523000036/bwa-20230703.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T10:50:05.105108+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"fafd00cca8c7e034a3ebb764746af2dc28a2c26b","claim":"BORGWARNER INC completed a disposition involving PHINIA Inc. for distribution of 100% of the outstanding shares of common stock of PHINIA Inc. to holders of record of common stock of the Company on a pro rata basis; each hold (closed 2023-07-03).","evidence_excerpt":"On July 3, 2023 (the “Distribution Date”), at 5:00 p.m. Eastern Daylight time, BorgWarner Inc. (the “Company”, “we,” “us,” or “our”) completed the previously announced separation of our Fuel Systems and Aftermarket businesses by way of a distribution of 100% of the outstanding shares of common stock of PHINIA Inc. (“PHINIA”) to holders of record of common stock of the Company on a pro rata basis (the “Spin-Off”).","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/908255/000090825523000036/0000908255-23-000036-index.htm","confidence":0.95,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"PHINIA Inc."},{"label":"Consideration","value":"distribution of 100% of the outstanding shares of common stock of PHINIA Inc. to holders of record of common stock of the Company on a pro rata basis; each hold"},{"label":"Closing","value":"2023-07-03"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}