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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2013
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | STOCKHOLDERS’ EQUITY Other Comprehensive Income (Loss) The following table summarizes our other comprehensive income (loss) and related tax effects for the periods presented:
|  | Three Months Ended June 30,
|  | 2013 |  | 2012
Millions of dollars |  | Pre-tax | Tax Effect | Net |  | Pre-tax | Tax Effect | Net
Currency translation adjustments |  | $ | (82 | ) | $ | — |  | $ | (82 | ) |  | $ | (195 | ) | $ | — |  | $ | (195 | )
Cash flow hedges |  | (19 | ) | 6 |  | (13 | ) |  | (36 | ) | 13 |  | (23 | )
Pension and other postretirement benefits plans |  | 8 |  | (4 | ) | 4 |  |  | (46 | ) | 17 |  | (29 | )
Available for sale securities |  | — |  | — |  | — |  |  | — |  | — |  | — |
Other comprehensive income (loss) |  | (93 | ) | 2 |  | (91 | ) |  | (277 | ) | 30 |  | (247 | )
Less: Other comprehensive income (loss) available to noncontrolling interests |  | (4 | ) | — |  | (4 | ) |  | (2 | ) | — |  | (2 | )
Other comprehensive income (loss) available to Whirlpool |  | $ | (89 | ) | $ | 2 |  | $ | (87 | ) |  | $ | (275 | ) | $ | 30 |  | $ | (245 | )
|  | Six Months Ended June 30,
|  | 2013 |  | 2012
Millions of dollars |  | Pre-tax | Tax Effect | Net |  | Pre-tax | Tax Effect | Net
Currency translation adjustments |  | $ | (120 | ) | $ | — |  | $ | (120 | ) |  | $ | (115 | ) | $ | — |  | $ | (115 | )
Cash flow hedges |  | (20 | ) | 7 |  | (13 | ) |  | (14 | ) | 5 |  | (9 | )
Pension and other postretirement benefits plans |  | 15 |  | (5 | ) | 10 |  |  | (45 | ) | 17 |  | (28 | )
Available for sale securities |  | 1 |  | — |  | 1 |  |  | 2 |  | — |  | 2 |
Other comprehensive income (loss) |  | (124 | ) | 2 |  | (122 | ) |  | (172 | ) | 22 |  | (150 | )
Less: Other comprehensive income (loss) available to noncontrolling interests |  | (3 | ) | — |  | (3 | ) |  | — |  | — |  | — |
Other comprehensive income (loss) available to Whirlpool |  | $ | (121 | ) | $ | 2 |  | $ | (119 | ) |  | $ | (172 | ) | $ | 22 |  | $ | (150 | )
Reclassifications Out of Accumulated Other Comprehensive Income (Loss) The following table provides the reclassification adjustments out of accumulated other comprehensive loss, by component, that were included in net earnings for the three and six months ended June 30, 2013.
|  | Three Months Ended June 30, 2013 |  | Six Months Ended June 30, 2013 |  |
Component - Accumulated other comprehensive loss |  | (Gain) Loss Reclassified |  | (Gain) Loss Reclassified |  | Classification in Earnings
Cash flow hedges, pre-tax |  | $ | 6 |  |  | $ | 8 |  |  | Cost of products sold
Pension and postretirement benefits, pre-tax |  | 8 |  |  | 15 |  |  | Cost of products sold / Selling, general and administrative
The following table summarizes the changes in stockholders’ equity for the period presented:
Millions of dollars |  | Total |  | Whirlpool Common Stockholders |  | Noncontrolling Interests
Stockholders’ equity, December 31, 2012 |  | $ | 4,367 |  |  | $ | 4,260 |  |  | $ | 107 |
Net earnings |  | 463 |  |  | 450 |  |  | 13 |
Other comprehensive income (loss) |  | (122 | ) |  | (119 | ) |  | (3 | )
Comprehensive income |  | 341 |  |  | 331 |  |  | 10 |
Common stock |  | 1 |  |  | 1 |  |  | — |
Treasury stock |  | (28 | ) |  | (28 | ) |  | — |
Additional paid-in capital |  | 72 |  |  | 72 |  |  | — |
Dividends declared on common stock |  | (95 | ) |  | (90 | ) |  | (5 | )
Stockholders’ equity, June 30, 2013 |  | $ | 4,658 |  |  | $ | 4,546 |  |  | $ | 112 |
Net Earnings per Share Diluted net earnings per share of common stock include the dilutive effect of stock options and other share-based compensation plans. Basic and diluted net earnings per share of common stock for the periods presented were calculated as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Millions of dollars and shares |  | 2013 |  | 2012 |  | 2013 |  | 2012
Numerator for basic and diluted earnings per share – net earnings available to Whirlpool |  | $ | 198 |  |  | $ | 113 |  |  | $ | 450 |  |  | $ | 205 |
Denominator for basic earnings per share – weighted-average shares |  | 79.8 |  |  | 78.0 |  |  | 79.5 |  |  | 77.7 |
Effect of dilutive securities – share-based compensation |  | 1.3 |  |  | 0.8 |  |  | 1.5 |  |  | 1.1 |
Denominator for diluted earnings per share – adjusted weighted-average shares |  | 81.1 |  |  | 78.8 |  |  | 81.0 |  |  | 78.8 |
Anti-dilutive stock options/awards excluded from earnings per share |  | 0.3 |  |  | 2.9 |  |  | — |  |  | 2.9 |
Repurchase Program On April 23, 2008, our Board of Directors authorized a share repurchase program of up to $500 million. Share repurchases are made from time to time on the open market as conditions warrant. We resumed the share repurchase program during the second quarter and repurchased 241 thousand shares at an aggregate purchase price of $30 million. At June 30, 2013, there were $320 million in funds remaining authorized under this program.

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- Definition The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 15 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 3, 4, 5, 6, 7, 8 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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