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Stockholders' Equity
 12 Months Ended
Dec. 31, 2014
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
STOCKHOLDERS’ EQUITY
Comprehensive Income
Comprehensive income primarily includes (1) our reported net earnings, (2) foreign currency translation, (3) changes in the effective portion of our open derivative contracts designated as cash flow hedges, (4) changes in our unrecognized pension and other postretirement benefits and (5) changes in fair value of our available for sale marketable securities.
The following table shows the components of accumulated other comprehensive income (loss) available to Whirlpool at December 31, 2012, 2013, and 2014, and the activity for the years then ended:
Millions of dollars
 
Foreign
Currency
 
Derivative
Instruments
 
Pension and
Postretirement
Liability
 
Marketable
Securities
 
Total
December 31, 2011
 
$
(387
)
 
$
(13
)
 
$
(820
)
 
$
(6
)
 
$
(1,226
)
Unrealized gain (loss)
 
(36
)
 
8

 
—

 
9

 
(19
)
Unrealized actuarial gain(loss) and prior service credit (cost)
 
—

 
—

 
(420
)
 
—

 
(420
)
Tax effect
 
(19
)
 
(3
)
 
152

 
—

 
130

Other comprehensive income (loss), net of tax
 
(55
)
 
5

 
(268
)
 
9

 
(309
)
Less: Other comprehensive loss available to noncontrolling interests
 
(4
)
 
—

 
—

 
—

 
(4
)
Other comprehensive income (loss) available to Whirlpool
 
(51
)
 
5

 
(268
)
 
9

 
(305
)
December 31, 2012
 
$
(438
)
 
$
(8
)
 
$
(1,088
)
 
$
3

 
$
(1,531
)
Unrealized gain (loss)
 
(122
)
 
2

 
—

 
7

 
(113
)
Unrealized actuarial gain (loss) and prior service credit (cost)
 
—

 
—

 
508

 
—

 
508

Tax effect
 
25

 
—

 
(190
)
 
—

 
(165
)
Other comprehensive income (loss), net of tax
 
(97
)
 
2

 
318

 
7

 
230

Less: Other comprehensive loss available to noncontrolling interests
 
(3
)
 
—

 
—

 
—

 
(3
)
Other comprehensive income (loss) available to Whirlpool
 
(94
)
 
2

 
318

 
7

 
233

December 31, 2013
 
$
(532
)
 
$
(6
)
 
$
(770
)
 
$
10

 
$
(1,298
)
Unrealized loss
 
(392
)
 
(1
)
 
—

 
—

 
(393
)
Unrealized actuarial loss and prior service credit
 
—

 
—

 
(233
)
 
—

 
(233
)
Tax effect
 
(5
)
 
—

 
85

 
—

 
80

Other comprehensive loss, net of tax
 
(397
)
 
(1
)
 
(148
)
 
—

 
(546
)
Less: Other comprehensive loss available to noncontrolling interests
 
(4
)
 
—

 
—

 
—

 
(4
)
Other comprehensive loss available to Whirlpool
 
$
(393
)
 
$
(1
)
 
$
(148
)
 
$
—

 
$
(542
)
December 31, 2014
 
$
(925
)
 
$
(7
)
 
$
(918
)
 
$
10

 
$
(1,840
)

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 were calculated as follows:
Millions of dollars and shares
 
2014
 
2013
 
2012
Numerator for basic and diluted earnings per share – net earnings available to Whirlpool
 
$
650

 
$
827

 
$
401

Denominator for basic earnings per share – weighted-average shares
 
78.3

 
79.3

 
78.1

Effect of dilutive securities – stock-based compensation
 
1.3

 
1.5

 
1.2

Denominator for diluted earnings per share – adjusted weighted-average shares
 
79.6

 
80.8

 
79.3

Anti-dilutive stock options/awards excluded from earnings per share
 
0.2

 
—

 
2.4


Dividends
Dividends per share paid to shareholders were $2.88, $2.38 and $2.00 during 2014, 2013 and 2012, respectively.
Repurchase Program
On April 14, 2014, our Board of Directors authorized a new share repurchase program of up to $500 million. Share repurchases are made from time to time on the open market as conditions warrant. The program does not obligate us to repurchase any of our shares. During the twelve months ended December 31, 2014, we repurchased 165,900 shares at an aggregate purchase price of approximately $25 million under this program. At December 31, 2014, there were approximately $475 million in remaining funds authorized under this program.