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Restructuring Charges

9 Months Ended

Sep. 30, 2016

Restructuring Charges [Abstract]

Restructuring charges

RESTRUCTURING CHARGES

During 2014 and 2015, we announced the following restructuring plans: (a) the closure of a microwave oven manufacturing facility and other organizational efficiency actions in EMEA and Latin America, (b) organizational integration activities in China and Europe to support the integration of Whirlpool China and Indesit, and (c) the closure of a research and development facility in Germany in 2016. All of these actions will be substantially complete in 2016.

In the second quarter of 2015, we committed to a restructuring plan to integrate our Italian legacy operations with those of Indesit. The industrial restructuring plan, which was approved by the relevant labor unions in July 2015 and signed by the Italian government in August 2015, provides for the closure or repurposing of certain manufacturing facilities and headcount reductions at other facilities. In addition, the restructuring plan provides for headcount reductions in the salaried employee workforce.

We estimate that we will incur up to €179 million (approximately $201 million as of September 30, 2016) in employee-related costs, €25 million (approximately $28 million as of September 30, 2016) in asset impairment costs, and €37 million (approximately $42 million as of September 30, 2016) in other associated costs in connection with these actions. These actions will be substantially complete in 2018. We estimate €209 million (approximately $235 million as of September 30, 2016) of the estimated €241 million total cost will result in cash expenditures.

The following table summarizes the change in our combined restructuring liability for the period ended September 30, 2016:

Millions of dollars	December 31, 2015			Charge to Earnings			Cash Paid			Non-cash and Other			September 30, 2016
Employee termination costs	$	30		$	86		$	(68	)	$	3		$	51
Asset impairment costs	—			15			—			(15		)	—
Facility exit costs	3			8			(10		)	—			1
Other exit costs	18			7			(10		)	—			15
Total	$	51		$	116		$	(88	)	$	(12	)	$	67

The following table summarizes the restructuring charges by operating segment as of September 30, 2016:

Millions of dollars		September 30, 2016
North America		$	14
EMEA		97
Latin America		3
Asia		2
Corporate / Other		—
Total		$	116

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.P.4)
-URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 5.P.3)
-URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 5
-Section P
-Subsection 3, 4

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- References

No definition available.

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