PHINIA Inc 2025年季度报告

(State or other jurisdiction of incorporation or organization) was required to submit such files).Yes☑No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.Large accelerated filer☑Accelerated filer Emerging growth company Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2025 Condensed Consolidated Statements of Comprehensive Income for the three and six months endedJune 30, 2025 and 2024 (Unaudited)Condensed Consolidated Statements of Cash Flows for the six months endedJune 30, 2025 and 2024(Unaudited)Notes to Condensed Consolidated Financial Statements (Unaudited)Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3. Quantitative and Qualitative Disclosures About Market RiskItem 4. Controls and ProceduresPART II. Other InformationItem 1. Legal ProceedingsItem 1A. Risk FactorsItem 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity SecuritiesItem 5. Other InformationItem 6. ExhibitsSIGNATURES Proceeds from asset disposals and other, netNet cash used in investing activities Net decrease in notes payable Payments for debt issuance costsRepayments of debt, including current portion Dividends paid to PHINIA stockholders(21)Payments for purchase of treasury stock, including excise tax(142)Payments for stock-based compensation items(6)Net cash used in financing activities(169)Effect of exchange rate changes on cash3Net decrease in cash and cash equivalents(137)Cash and cash equivalents at beginning of year484 4 NOTESTO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) The accompanying Condensed Consolidated Financial Statements and notes present the condensed consolidated statements of operations, balance sheets, and cash flows of PHINIA Inc. (PHINIA or the Company). PHINIA is a leader inthe development, design and manufacture of integrated components and systems that are designed to optimize performance, increase efficiency and reduce emissions for combustion and hybrid propulsion systems for commercialvehicles and industrial applications (medium-duty and heavy-duty trucks, buses and other off-highway construction,marine, agricultural and aerospace and defense), light commercial vehicles (vans and trucks) and light passenger Transition to Standalone Company On July 3, 2023, PHINIA became an independent publicly-traded company as a result of the legal and structuralseparation of the Fuel Systems and Aftermarket businesses from BorgWarner Inc. (BorgWarner or Former Parent). Theseparation was completed in the form of a distribution of the outstanding common stock of PHINIA to holders of record of common stock of BorgWarner on a pro rata basis (the Spin-Off). In connection with the Spin-Off, we entered into anagreement with the Former Parent which governs the Company’s and the Former Parent’s respective rights, responsibilities and obligations after the distribution with respect to taxes for any tax period ending on or before thedistribution date, as well as tax periods beginning before and ending after the distribution date (Tax Matters Agreement). generally accepted in the United States of America (U.S. GAAP) pursuant to the rules and regulations of the Securitiesand Exchange Commission (SEC) for interim financial information. Certain information and footnote disclosures normallyincluded in annual financial statements were condensed or omitted as permitted by such rules and regulations. In theopinion of management, all normal recurring adjustments necessary for a fair statement of results have been included.Operating results for the three and six months ended June30, 2025 are not necessarily indicative of the results that may Management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and accompanying notes, as well as amounts ofrevenues and expenses reported during the periods covered by those financial statements and accompanying notes. TheCondensed Consolidated Financial Statements may not be indicative of the Company’s future performance. Recently Adopted Accounting StandardsAccounting Standards Update (ASU) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable SegmentDisclosures.” This update is intended to improve disclosures about a public entity’s reportable segments and addressesrequests from investors and other allocators of capital for additional, more detailed information about a reportablesegment’s expenses. This guidance was effective for annual reporting periods beginning after December 15, 2023 and December 15, 2024. The Company has adopted this guidance; refer to Note 19, “Reportable Segments and RelatedInformation” to the Condensed