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Stockholders' Equity
 12 Months Ended
Dec. 31, 2016
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, 2014, 2015, and 2016, and the activity for the years then ended:
Millions of dollars
 
Foreign
Currency
 
Derivative
Instruments
 
Pension and
Postretirement
Liability
 
Marketable
Securities
 
Total
December 31, 2013
 
$
(532
)
 
$
(6
)
 
$
(770
)
 
$
10

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

 
—

 
(393
)
Unrealized actuarial gain(loss) and prior service credit (cost)
 
—

 
—

 
(233
)
 
—

 
(233
)
Tax effect
 
(5
)
 
—

 
85

 
—

 
80

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

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

 
—

 
—

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

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

 
$
(1,840
)
Unrealized gain (loss)
 
(432
)
 
(23
)
 
—

 
3

 
(452
)
Unrealized actuarial gain (loss) and prior service credit (cost)
 
—

 
—

 
(79
)
 
—

 
(79
)
Tax effect
 
—

 
—

 
30

 
—

 
30

Other comprehensive income (loss), net of tax
 
(432
)
 
(23
)
 
(49
)
 
3

 
(501
)
Less: Other comprehensive loss available to noncontrolling interests
 
(9
)
 
—

 
—

 
—

 
(9
)
Other comprehensive income (loss) available to Whirlpool
 
(423
)
 
(23
)
 
(49
)
 
3

 
(492
)
December 31, 2015
 
$
(1,348
)
 
$
(30
)
 
$
(967
)
 
$
13

 
$
(2,332
)
Unrealized gain (loss)
 
(30
)
 
71

 
—

 
(2
)
 
39

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

 
—

 
(70
)
 
—

 
(70
)
Tax effect
 
(17
)
 
(26
)
 
6

 
—

 
(37
)
Other comprehensive income (loss), net of tax
 
(47
)
 
45

 
(64
)
 
(2
)
 
(68
)
Less: Other comprehensive loss available to noncontrolling interests
 
—

 
—

 
—

 
—

 
—

Other comprehensive income (loss) available to Whirlpool
 
$
(47
)
 
$
45

 
$
(64
)
 
$
(2
)
 
$
(68
)
December 31, 2016
 
$
(1,395
)
 
$
15

 
$
(1,031
)
 
$
11

 
$
(2,400
)

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
 
2016
 
2015
 
2014
Numerator for basic and diluted earnings per share – net earnings available to Whirlpool
 
$
888

 
$
783

 
$
650

Denominator for basic earnings per share – weighted-average shares
 
76.1

 
78.7

 
78.3

Effect of dilutive securities – stock-based compensation
 
1.1

 
1.0

 
1.3

Denominator for diluted earnings per share – adjusted weighted-average shares
 
77.2

 
79.7

 
79.6

Anti-dilutive stock options/awards excluded from earnings per share
 
0.3

 
0.2

 
0.2


Dividends
Dividends per share paid to shareholders were $3.90, $3.45 and $2.88 during 2016, 2015 and 2014, respectively.
Repurchase Program
On April 14, 2014, our Board of Directors authorized a share repurchase program of up to $500 million. During the first quarter of 2016, we repurchased 1,507,100 shares at an aggregate purchase price of approximately $225 million under this program. As of March 31, 2016, there were no remaining funds authorized under this program.
On April 18, 2016 , our Board of Directors authorized a new share repurchase program of up to $1 billion. For the year ended December 31, 2016, we repurchased 1,749,600 shares at an aggregate purchase price of approximately $300 million under this program. At December 31, 2016, there were approximately $700 million in remaining funds authorized under this program.
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.