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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2018
Stockholders' Equity Note [Abstract] |
Schedule of Other Comprehensive Income | The following table summarizes our other comprehensive income (loss) and related tax effects for the periods presented:
|  | Three Months Ended June 30,
|  | 2018 |  | 2017
Millions of dollars |  | Pre-tax | Tax Effect | Net |  | Pre-tax | Tax Effect | Net
Currency translation adjustments |  | $ | (196 | ) | $ | (7 | ) | $ | (203 | ) |  | $ | 2 |  | $ | — |  | $ | 2 |
Cash flow and net investment hedges |  | 42 |  | (11 | ) | 31 |  |  | (28 | ) | 10 |  | (18 | )
Pension and other postretirement benefits plans |  | 13 |  | (4 | ) | 9 |  |  | 11 |  | (6 | ) | 5 |
Available for sale securities |  | — |  | — |  | — |  |  | 2 |  | — |  | 2 |
Other comprehensive income (loss) |  | (141 | ) | (22 | ) | (163 | ) |  | (13 | ) | 4 |  | (9 | )
Less: Other comprehensive income (loss) available to noncontrolling interests |  | — |  | — |  | — |  |  | — |  | — |  | — |
Other comprehensive income (loss) available to Whirlpool |  | $ | (141 | ) | $ | (22 | ) | $ | (163 | ) |  | $ | (13 | ) | $ | 4 |  | $ | (9 | )
|  | Six Months Ended June 30,
|  | 2018 |  | 2017
Millions of dollars |  | Pre-tax | Tax Effect | Net |  | Pre-tax | Tax Effect | Net
Currency translation adjustments |  | $ | (170 | ) | $ | (6 | ) | $ | (176 | ) |  | $ | 76 |  | $ | — |  | $ | 76 |
Cash flow and net investment hedges |  | (22 | ) | 5 |  | (17 | ) |  | (25 | ) | 7 |  | (18 | )
Pension and other postretirement benefits plans |  | 50 |  | (15 | ) | 35 |  |  | 20 |  | (7 | ) | 13 |
Available for sale securities |  | — |  | — |  | — |  |  | — |  | — |  | — |
Other comprehensive income (loss) |  | (142 | ) | (16 | ) | (158 | ) |  | 71 |  | — |  | 71 |
Less: Other comprehensive income (loss) available to noncontrolling interests |  | 1 |  | — |  | 1 |  |  | (1 | ) | — |  | (1 | )
Other comprehensive income (loss) available to Whirlpool |  | $ | (143 | ) | $ | (16 | ) | $ | (159 | ) |  | $ | 72 |  | $ | — |  | $ | 72 |
Reclassifications Out of Accumulated Other Comprehensive Income | The following table provides the reclassification adjustments out of accumulated other comprehensive income (loss), by component, which was included in net earnings for the three and six months ended June 30, 2018:
|  | Three Months Ended |  | Six Months Ended |  |
Millions of dollars |  | (Gain) Loss Reclassified |  | (Gain) Loss Reclassified |  | Classification in Earnings
Cash flow hedges, pre-tax |  | $ | (14 | ) |  | $ | (19 | ) |  | Cost of products sold
Cash flow hedges, pre-tax |  | (39 | ) |  | (45 | ) |  | Interest and sundry (income) expense
Pension and postretirement benefits, pre-tax |  | 10 |  |  | 28 |  |  | Interest and sundry (income) expense
Schedule of Stockholders Equity | 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, 2017 |  | $ | 5,128 |  |  | $ | 4,198 |  |  | $ | 930 |
Net earnings (loss) |  | (545 | ) |  | (563 | ) |  | 18 |
Other comprehensive income (loss) |  | (158 | ) |  | (159 | ) |  | 1 |
Comprehensive income (loss) |  | (703 | ) |  | (722 | ) |  | 19 |
Adjustment to beginning retained earnings (1) |  | 72 |  |  | 72 |  |  | — |
Adjustment to beginning accumulated other comprehensive loss |  | (17 | ) |  | (17 | ) |  | — |
Common stock |  | — |  |  | — |  |  | — |
Treasury stock |  | (1,001 | ) |  | (1,001 | ) |  | — |
Additional paid-in capital |  | 27 |  |  | 27 |  |  | — |
Dividends declared on common stock |  | (162 | ) |  | (159 | ) |  | (3 | )
Stockholders' equity, June 30, 2018 |  | $ | 3,344 |  |  | $ | 2,398 |  |  | $ | 946 |
(1) Increase to beginning retained earnings is due to the following accounting standard adoptions: ASU 2014-09 [increase of approximately $0.4 million], ASU 2016-01 [increase of approximately $17 million] and ASU 2016-16 [increase of approximately $56 million]. For additional information regarding the adoption of these accounting standards, see Note 1 of the Consolidated Condensed Financial Statements.
Schedule of Calculation of Numerator and Denominator in Earnings Per Share | Basic and diluted net earnings per share of common stock for the periods presented were calculated as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Millions of dollars and shares |  | 2018 |  | 2017 |  | 2018 |  | 2017
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool |  | $ | (657 | ) |  | $ | 189 |  |  | $ | (563 | ) |  | $ | 342 |
Denominator for basic earnings per share - weighted-average shares |  | 69.1 |  |  | 74.0 |  |  | 70.1 |  |  | 74.4 |
Effect of dilutive securities – share-based compensation |  | — |  |  | 1.1 |  |  | — |  |  | 1.2 |
Denominator for diluted earnings per share – adjusted weighted-average shares |  | 69.1 |  |  | 75.1 |  |  | 70.1 |  |  | 75.6 |
Anti-dilutive stock options/awards excluded from earnings per share |  | 2.0 |  |  | 0.5 |  |  | 1.9 |  |  | 0.6 |

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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=114867106&loc=d3e526-108580 + Details
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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644 + Details
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