secwatch.observer — SEC 8-K summary
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Issuer:     BORGWARNER INC (BWA)
CIK:        0000908255
Form:       8-K
Filed at:   2023-07-10T23:59:59+00:00
Accession:  0000908255-23-000036
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.01, 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908255/000090825523000036/0000908255-23-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908255/000090825523000036/bwa-20230703.htm
  HTML page:      https://secwatch.observer/filing/0000908255-23-000036

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