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Stockholders' Equity
 12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
Stockholders' Equity STOCKHOLDERS' EQUITY
Comprehensive Income (Loss)
Comprehensive income (loss) primarily includes (1) our reported net earnings (loss), (2) foreign currency translation, including net investment hedges, (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 (prior to the adoption of ASU 2016-01 in 2018).
The following table shows the components of accumulated other comprehensive income (loss) available to Whirlpool at December 31, 2017, 2018, and 2019, and the activity for the years then ended:
Millions of dollars
Foreign
Currency
 
Derivative
Instruments
 
Pension and
Postretirement
Liability
 
Marketable
Securities
 
Total
December 31, 2016
$
(1,395
)
 
$
15

 
$
(1,031
)
 
$
11

 
(2,400
)
Unrealized gain (loss)
32

 
(4
)
 
—

 
6

 
34

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

 
—

 
(15
)
 
—

 
(15
)
Tax effect
43

 
—

 
7

 
—

 
50

Other comprehensive income (loss), net of tax
75

 
(4
)
 
(8
)
 
6

 
69

Less: Other comprehensive loss available to noncontrolling interests
—

 
—

 
—

 
—

 
—

Other comprehensive income (loss) available to Whirlpool
75

 
(4
)
 
(8
)
 
6

 
69

December 31, 2017
$
(1,320
)
 
$
11

 
$
(1,039
)
 
$
17

 
$
(2,331
)
Unrealized gain (loss)
(272
)
 
(30
)
 
—

 
—

 
(302
)
Unrealized actuarial gain (loss) and prior service credit (cost)
—

 
—

 
(48
)
 
—

 
(48
)
Tax effect
(15
)
 
7

 
13

 
—

 
5

Other comprehensive income (loss), net of tax
(287
)
 
(23
)
 
(35
)
 
—

 
(345
)
Less: Other comprehensive loss available to noncontrolling interests
2

 
—

 
—

 
—

 
2

Other comprehensive income (loss) available to Whirlpool
(289
)
 
(23
)
 
(35
)
 
—

 
(347
)
Adjustment to beginning accumulated other comprehensive loss
21

 
(21
)
 
—

 
(17
)
 
(17
)
December 31, 2018
$
(1,588
)
 
$
(33
)
 
$
(1,074
)
 
$
—

 
$
(2,695
)
Unrealized gain (loss)
54

 
(17
)
 
—

 
—

 
37

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

 
—

 
52

 
—

 
52

Tax effect
2

 
4

 
(18
)
 
—

 
(12
)
Other comprehensive income (loss), net of tax
56

 
(13
)
 
34

 
—

 
77

Less: Other comprehensive loss available to noncontrolling interests
—

 
—

 
—

 
—

 
—

Other comprehensive income (loss) available to Whirlpool
56

 
(13
)
 
34

 
—

 
77

December 31, 2019
$
(1,532
)
 
$
(46
)
 
$
(1,040
)
 
$
—

 
$
(2,618
)

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
 
2019
 
2018
 
2017
Numerator for basic and diluted earnings per share – net earnings (loss) available to Whirlpool
 
$
1,184

 
$
(183
)
 
$
350

Denominator for basic earnings per share – weighted-average shares
 
63.7

 
67.2

 
73.3

Effect of dilutive securities – stock-based compensation
 
0.5

 
—

 
1.1

Denominator for diluted earnings per share – adjusted weighted-average shares
 
64.2

 
67.2

 
74.4

Anti-dilutive stock options/awards excluded from earnings per share
 
1.3

 
1.9

 
0.6


Dividends
Dividends per share paid to shareholders were $4.75, $4.55 and $4.30 during 2019, 2018 and 2017, respectively.
Share Repurchase Program
On July 25, 2017, our Board of Directors authorized an additional share repurchase program of up to $2 billion. For the year ended December 31, 2019, we repurchased 1,043,121 shares at an aggregate purchase price of approximately $148 million under this program. At December 31, 2019, there were approximately $652 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 and it has no expiration date.