---
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"
generated_at: "2026-06-13T10:50:05.105108+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# BorgWarner completes PHINIA spin-off; pro forma 2022 EPS $2.75 vs $3.99

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.01, 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000908255-23-000036
- JSON: https://secwatch.observer/filing/0000908255-23-000036.json
- Plain text: https://secwatch.observer/filing/0000908255-23-000036.txt

## Key facts
- M&A Transactions
  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).
  - Action: disposition
  - Counterparty: PHINIA Inc.
  - Consideration: 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
  - Closing: 2023-07-03
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/908255/000090825523000036/0000908255-23-000036-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.