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Stockholders' Equity | 9 Months Ended
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Sep. 30, 2015
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 September 30,
|  | 2015 |  | 2014
Millions of dollars |  | Pre-tax | Tax Effect | Net |  | Pre-tax | Tax Effect | Net
Currency translation adjustments |  | $ | (197 | ) | $ | — |  | $ | (197 | ) |  | $ | (198 | ) | $ | — |  | $ | (198 | )
Cash flow hedges |  | (10 | ) | 2 |  | (8 | ) |  | 11 |  | (4 | ) | 7 |
Pension and other postretirement benefits plans |  | 9 |  | (4 | ) | 5 |  |  | 3 |  | (2 | ) | 1 |
Available for sale securities |  | (5 | ) | — |  | (5 | ) |  | (6 | ) | — |  | (6 | )
Other comprehensive loss |  | (203 | ) | (2 | ) | (205 | ) |  | (190 | ) | (6 | ) | (196 | )
Less: Other comprehensive loss available to noncontrolling interests |  | (6 | ) | — |  | (6 | ) |  | (3 | ) | — |  | (3 | )
Other comprehensive loss available to Whirlpool |  | $ | (197 | ) | $ | (2 | ) | $ | (199 | ) |  | $ | (187 | ) | $ | (6 | ) | $ | (193 | )
|  | Nine Months Ended September 30,
|  | 2015 |  | 2014
Millions of dollars |  | Pre-tax | Tax Effect | Net |  | Pre-tax | Tax Effect | Net
Currency translation adjustments |  | $ | (343 | ) | $ | — |  | $ | (343 | ) |  | $ | (164 | ) | $ | — |  | $ | (164 | )
Cash flow hedges |  | (34 | ) | 8 |  | (26 | ) |  | 21 |  | (8 | ) | 13 |
Pension and other postretirement benefits plans |  | (17 | ) | 8 |  | (9 | ) |  | (11 | ) | 6 |  | (5 | )
Available for sale securities |  | (1 | ) | — |  | (1 | ) |  | 1 |  | — |  | 1 |
Other comprehensive income (loss) |  | (395 | ) | 16 |  | (379 | ) |  | (153 | ) | (2 | ) | (155 | )
Less: Other comprehensive loss available to noncontrolling interests |  | (8 | ) | — |  | (8 | ) |  | (2 | ) | — |  | (2 | )
Other comprehensive income (loss) available to Whirlpool |  | $ | (387 | ) | $ | 16 |  | $ | (371 | ) |  | $ | (151 | ) | $ | (2 | ) | $ | (153 | )
Reclassifications Out of Accumulated Other Comprehensive Income (Loss) The following table provides the reclassification adjustments out of accumulated other comprehensive loss, by component, that was included in net earnings for the three and nine months ended September 30, 2015:
|  | Three Months Ended |  | Nine Months Ended |  |
Millions of dollars |  | Gain Reclassified |  | Gain Reclassified |  | Classification in Earnings
Cash flow hedges, pre-tax |  | $ | (2 | ) |  | $ | (4 | ) |  | Cost of products sold
Pension and postretirement benefits, pre-tax |  | (6 | ) |  | (27 | ) |  | 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, 2014 |  | $ | 5,796 |  |  | $ | 4,885 |  |  | $ | 911 |
Net earnings |  | 633 |  |  | 603 |  |  | 30 |
Other comprehensive loss |  | (379 | ) |  | (371 | ) |  | (8 | )
Comprehensive income |  | 254 |  |  | 232 |  |  | 22 |
Treasury stock |  | (95 | ) |  | (95 | ) |  | — |
Additional paid-in capital |  | 42 |  |  | 42 |  |  | — |
Dividends declared on common stock |  | (208 | ) |  | (201 | ) |  | (7 | )
Stockholders' equity, September 30, 2015 |  | $ | 5,789 |  |  | $ | 4,863 |  |  | $ | 926 |
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 September 30, |  | Nine Months Ended September 30,
Millions of dollars and shares |  | 2015 |  | 2014 |  | 2015 |  | 2014
Numerator for basic and diluted earnings per share - Net earnings available to Whirlpool |  | $ | 235 |  |  | $ | 230 |  |  | $ | 603 |  |  | $ | 569 |
Denominator for basic earnings per share – weighted-average shares |  | 78.8 |  |  | 78.4 |  |  | 78.9 |  |  | 78.3 |
Effect of dilutive securities – share-based compensation |  | 0.9 |  |  | 1.2 |  |  | 1.0 |  |  | 1.1 |
Denominator for diluted earnings per share – adjusted weighted-average shares |  | 79.7 |  |  | 79.6 |  |  | 79.9 |  |  | 79.4 |
Anti-dilutive stock options/awards excluded from earnings per share |  | 0.3 |  |  | 0.2 |  |  | 0.2 |  |  | 0.3 |
Repurchase Program On April 14, 2014, 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. The program does not obligate us to repurchase any of our shares. During the nine months ended September 30, 2015, we repurchased 520,600 shares at an aggregate purchase price of approximately $95 million under this program. At September 30, 2015, there were approximately $380 million in remaining funds authorized under this program.

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