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Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2019
Stockholders' Equity Note [Abstract]  
Schedule of Stockholders Equity
The following table summarizes the changes in stockholders' equity for the periods presented:
 
 
 
 
Whirlpool Stockholders' Equity
 
 
 
 
Total
 
Retained
Earnings
 
Accumulated Other
Comprehensive Income (Loss)
 
Treasury Stock/
Additional Paid-
in-Capital
 
Common
Stock
 
Non-
Controlling
Interests
Balances, December 31, 2018
 
$
3,205

 
$
6,933

 
$
(2,695
)
 
$
(2,059
)
 
$
112

 
$
914

Comprehensive income
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
 
474

 
471

 
—

 
—

 
—

 
3

Other comprehensive income
 
93

 
—

 
93

 
—

 
—

 
—

Comprehensive income
 
567

 
471

 
93

 
—

 
—

 
3

Adjustment to beginning retained earnings (1)
 
61

 
61

 
—

 
—

 
—

 
—

Stock issued (repurchased)
 
(40
)
 
—

 
—

 
(40
)
 
—

 
—

Dividends declared
 
(74
)
 
(74
)
 
—

 
—

 
—

 
—

Balances, March 31, 2019
 
3,719

 
7,391

 
(2,602
)
 
(2,099
)
 
112

 
917

Comprehensive income
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
 
72

 
67

 
—

 
—

 
—

 
5

Other comprehensive income
 
(56
)
 
—

 
(55
)
 
—

 
—

 
(1
)
Comprehensive income
 
16

 
67

 
(55
)
 
—

 
—

 
4

Stock issued (repurchased)
 
13

 
—

 
—

 
13

 
—

 
—

Dividends declared
 
(81
)
 
(78
)
 
—

 
—

 
—

 
(3
)
Balances, June 30, 2019
 
3,667

 
7,380

 
(2,657
)
 
(2,086
)
 
112

 
918


(1) Increase to beginning retained earnings is due to the adoption of ASU 2016-02 [increase of approximately $61 million (net of tax)]. For additional information regarding the adoption of this accounting standard, see Notes 1 and 3 to the Consolidated Condensed Financial Statements.
 
 
 
 
Whirlpool Stockholders' Equity
 
 
 
 
Total
 
Retained
Earnings
 
Accumulated Other
Comprehensive Income (Loss)
 
Treasury Stock/
Additional Paid-
in-Capital
 
Common
Stock
 
Non-
Controlling
Interests
Balances, December 31, 2017
 
$
5,128

 
$
7,352

 
$
(2,331
)
 
$
(935
)
 
$
112

 
$
930

Comprehensive income
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
 
94

 
94

 
—

 
—

 
—

 
—

Other comprehensive income
 
5

 
—

 
4

 
—

 
—

 
1

Comprehensive income
 
99

 
94

 
4

 
—

 
—

 
1

Adjustment to beginning retained earnings (2)
 
72

 
72

 
—

 
—

 
—

 
—

Adjustment to beginning accumulated other comprehensive loss
 
(17
)
 
—

 
(17
)
 
—

 
—

 
—

Stock issued (repurchased)
 
16

 
—

 
—

 
16

 
—

 
—

Dividends declared
 
(78
)
 
(78
)
 
—

 
—

 
—

 
—

Balances, March 31, 2018
 
5,220

 
7,440

 
(2,344
)
 
(919
)
 
112

 
931

Comprehensive income
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
 
(639
)
 
(657
)
 
—

 
—

 
—

 
18

Other comprehensive income
 
(163
)
 
$
—

 
(162
)
 
$
—

 
$
—

 
$
(1
)
Comprehensive income
 
(802
)
 
(657
)
 
(162
)
 
—

 
—

 
17

Stock issued (repurchased)
 
(990
)
 
$
—

 
—

 
$
(990
)
 
$
—

 
$
—

Dividends declared
 
(84
)
 
(82
)
 
—

 
—

 
—

 
(2
)
Balances, June 30, 2018
 
3,344

 
6,701

 
(2,506
)
 
(1,909
)
 
112

 
946


(2) 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].
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,
 
 
2019
 
2018
Millions of dollars
 
Pre-tax
Tax Effect
Net
 
Pre-tax
Tax Effect
Net
Currency translation adjustments (3)
 
$
(54
)
$
5

$
(49
)
 
$
(177
)
$
(13
)
$
(190
)
Cash flow hedges
 
(21
)
5

(16
)
 
23

(5
)
18

Pension and other postretirement benefits plans
 
11

(2
)
9

 
13

(4
)
9

Other comprehensive income (loss)
 
(64
)
8

(56
)
 
(141
)
(22
)
(163
)
Less: Other comprehensive income (loss) available to noncontrolling interests
 
(1
)
—

(1
)
 
(1
)
—

(1
)
Other comprehensive income (loss) available to Whirlpool
 
$
(63
)
$
8

$
(55
)
 
$
(140
)
$
(22
)
$
(162
)
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30,
 
 
2019

2018
Millions of dollars
 
Pre-tax
Tax Effect
Net
 
Pre-tax
Tax Effect
Net
Currency translation adjustments(3)
 
$
38

$
6

$
44

 
$
(189
)
$
(1
)
$
(190
)
Cash flow
 
(35
)
10

(25
)
 
(3
)
—

(3
)
Pension and other postretirement benefits plans
 
22

(4
)
18

 
50

(15
)
35

Other comprehensive income (loss)
 
25

12

37

 
(142
)
(16
)
(158
)
Less: Other comprehensive income (loss) available to noncontrolling interests
 
(1
)

(1
)
 
—

—

—

Other comprehensive income (loss) available to Whirlpool
 
$
26

$
12

$
38

 
$
(142
)
$
(16
)
$
(158
)
`(3) Currency translation adjustments includes net investment hedges.
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, 2019:
 
 
Three Months Ended
 
Six Months Ended
 
 
Millions of dollars
 
(Gain) Loss Reclassified
 
(Gain) Loss Reclassified
 
Classification in Earnings
Pension and postretirement benefits, pre-tax
 
11

 
22

 
Interest and sundry (income) expense
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
 
2019

2018
 
2019
 
2018
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool
 
$
67

 
$
(657
)
 
$
538

 
$
(563
)
Denominator for basic earnings per share - weighted-average shares
 
63.8

 
69.1

 
63.9

 
70.1

Effect of dilutive securities - share-based compensation
 
0.5

 
—

 
0.5

 
—

Denominator for diluted earnings per share - adjusted weighted-average shares
 
64.3

 
69.1

 
64.4

 
70.1

Anti-dilutive stock options/awards excluded from earnings per share
 
1.5

 
2.0

 
1.5

 
1.9