<SEC-DOCUMENT>0001193125-16-730214.txt : 20161228
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<ACCEPTANCE-DATETIME>20161004130502
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-16-730214
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20161004

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WHIRLPOOL CORP /DE/
		CENTRAL INDEX KEY:			0000106640
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD APPLIANCES [3630]
		IRS NUMBER:				381490038
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		WHIRLPOOL CNTR 2000 M 63
		STREET 2:		C/O CORPORATE SECRETARY
		CITY:			BENTON HARBOR
		STATE:			MI
		ZIP:			49022-2692
		BUSINESS PHONE:		2699235000

	MAIL ADDRESS:	
		STREET 1:		WHIRLPOOL CTR 2000 M 63
		STREET 2:		C/O CORPORATE SECRETARY
		CITY:			BENTON HARBOR
		STATE:			MI
		ZIP:			49022-2692

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WHIRLPOOL SEEGER CORP
		DATE OF NAME CHANGE:	19710824
</SEC-HEADER>
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<IMG SRC="g215408g97w95.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">October 4, 2016 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United
States Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Mr. Carlos Pacho, Senior Assistant Chief Accountant </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Re: Whirlpool Corporation </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Form 8-K Dated July 22,
2016 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Filed July 22, 2016 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>File No. 001-03932
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr. Pacho: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As Executive Vice President and Chief
Financial Officer of Whirlpool Corporation (&#147;Whirlpool&#148;), I am responding to the letter from the staff of the Division of Corporation Finance of the United States Securities and Exchange Commission (&#147;Staff&#148;) dated September 23,
2016, containing comments on the above-referenced filing. For your convenience, we have included in this letter each of the Staff&#146;s comments before providing our response to that comment. As noted in our responses below, the proposed revision
refers to Whirlpool&#146;s intended method of complying with the Staff&#146;s comments in Whirlpool&#146;s future filings with the Commission, if appropriate given the then current facts and circumstances. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form 8-K Dated July 22, 2016 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Comment No. 1:
Exhibit 99.1 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Please revise to clarify that the &#147;ongoing&#148; measures highlighted in the first section of your earnings release are
non-GAAP measures. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response:</U> In response to the Staff&#146;s comment,&nbsp;we will in future filings clarify that &#147;ongoing&#148; measures
highlighted in the first section of our release are non-GAAP measures by adding a &#147;(non-GAAP)&#148; parenthetical to the first reference to &#147;ongoing&#148; in the release. We have utilized the term &#147;ongoing&#148; or &#147;ongoing
business&#148; since 2012 to refer to our non-GAAP earnings per share and operating profit / </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
margin measures that we believe are more reflective of our underlying, or ongoing, business results.&nbsp;We have in the past and will continue to provide, along with the clarifying reference
above, an explanation of these measures in the Supplemental Information paragraph that precedes our GAAP to non-GAAP reconciliations.</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Comment No. 2:
Exhibit 99.1 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>We note that you exclude restructuring expenses from your non-GAAP Ongoing Business Measures. Please explain to us why these are
not normal, recurring, cash operating expenses necessary to operate your business. See Question 100.01 of the updated Non-GAAP Compliance and Disclosure Interpretations issued on May 17, 2016. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, we respectfully provide the following supplemental information.&nbsp;In the fourth quarter of 2014, we completed our
acquisition of Indesit Company S.p.A. (&#147;Indesit&#148;), which, due to its size, materially changed our European footprint (the &#147;Indesit Acquisition&#148;).&nbsp;Since closing the Indesit Acquisition, we have been integrating Indesit into
our European business and creating operating cost synergies that require substantial up-front investments and related one-time expenses to create a more streamlined and efficient European operation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We recognize that Question 100.01 of the updated Non-GAAP Compliance and Disclosure Interpretations cautions registrants against presenting a performance
measure that excludes normal, recurring cash operating expenses necessary to operate the registrant&#146;s business.&nbsp;However, we believe that the restructuring expenses excluded from our non-GAAP ongoing business measures for the three months
ended June 30, 2016 and 2015 and forecast for full year 2016 &#150; which expenses relate to the Indesit Acquisition and other unique restructuring events &#150; do not constitute &#147;normal, recurring cash operating expenses&#148; necessary to
operate our business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">From time to time, we have completed major acquisitions or other unique or strategic transactions for which we initiate
restructuring actions to eliminate redundancies.&nbsp;Most recently, these restructuring actions primarily include headcount reductions and other manufacturing footprint changes related to the Indesit acquisition, and the related restructuring
expenses are expected to be limited to the next two years.&nbsp;Given the nature and infrequency of these transactions and the types of restructuring costs, management reviews the Company&#146;s operating results by adjusting for these expenses in
managing the ongoing business.&nbsp;In addition, the company has not historically described these charges as non-recurring or in other terms that mischaracterize the frequency of these charges.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Based on interactions with investors, we believe that the non-GAAP measures we use that are adjusted for these costs are regarded as useful additional
disclosure to investors and there is no confusion among investors about these adjustments.&nbsp;We will provide additional clarifying language regarding the nature of our restructuring expense line item in the footnotes to our non-GAAP
reconciliations in future periods. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I hope that the foregoing has been responsive to the Staff&#146;s comments. All inquiries, questions, comments,
notices and orders with respect to this letter, should be directed to the undersigned at (269) 923-3732, via facsimile at (269) 923-3582, or via email at james_peters@whirlpool.com. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with responding to the Staff&#146;s comments, and as requested by the Staff, we acknowledge the following: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Whirlpool is responsible for the adequacy and accuracy of the disclosure in the filing; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to the filing; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Whirlpool may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/
JAMES PETERS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">James Peters </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Vice President and
Chief Financial Officer </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top">Robert S. Littlepage </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Christie Wong, Staff Accountant </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Christine Adams, Staff Accountant </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Bridget K. Quinn, Whirlpool Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Paul Steih, Ernst &amp; Young LLP </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
