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Stockholders' Equity (Tables)
 6 Months Ended
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