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Stockholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2020
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, 2019 |  | $ | 4,118 |  |  | $ | 7,870 |  |  | $ | (2,618 | ) |  | $ | (2,169 | ) |  | $ | 112 |  |  | $ | 923 |
Comprehensive income |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  | 147 |  |  | 152 |  |  | — |  |  | — |  |  | — |  |  | (5 | )
Other comprehensive income |  | (95 | ) |  | — |  |  | (97 | ) |  | — |  |  | — |  |  | 2 |
Comprehensive income |  | 52 |  |  | 152 |  |  | (97 | ) |  | — |  |  | — |  |  | (3 | )
Stock issued (repurchased) |  | (115 | ) |  | — |  |  | — |  |  | (115 | ) |  | — |  |  | — |
Dividends declared |  | (75 | ) |  | (75 | ) |  | — |  |  | — |  |  | — |  |  | — |
Balances, March 31, 2020 |  | 3,980 |  |  | 7,947 |  |  | (2,715 | ) |  | (2,284 | ) |  | 112 |  |  | 920 |
|  |  |  | 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 |
(1) Increase to beginning retained earnings is due to the adoption of ASU 2016-02 [increase of approximately $61 million (net of tax)].
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 March 31,
|  | 2020 |  | 2019
Millions of dollars |  | Pre-tax | Tax Effect | Net |  | Pre-tax | Tax Effect | Net
Currency translation adjustments (2) |  | $ | (172 | ) | $ | (24 | ) | $ | (196 | ) |  | $ | 92 |  | 1 |  | $ | 93 |
Cash flow hedges |  | 111 |  | (23 | ) | 88 |  |  | (14 | ) | 5 |  | (9 | )
Pension and other postretirement benefits plans |  | 16 |  | (3 | ) | 13 |  |  | 12 |  | (3 | ) | 9 |
Other comprehensive income (loss) |  | (45 | ) | (50 | ) | (95 | ) |  | 90 |  | 3 |  | 93 |
Less: Other comprehensive income (loss) available to noncontrolling interests |  | 2 |  | — |  | 2 |  |  | — |  | — |  | — |
Other comprehensive income (loss) available to Whirlpool |  | $ | (47 | ) | $ | (50 | ) | $ | (97 | ) |  | $ | 90 |  | $ | 3 |  | $ | 93 |
(2) | 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 months ended March 31, 2020:
| Three Months Ended |  |
Millions of dollars | (Gain) Loss Reclassified |  | Classification in Earnings
Pension and postretirement benefits, pre-tax | 16 |  |  | 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 March 31,
Millions of dollars and shares |  | 2020 |  | 2019
Numerator for basic and diluted earnings per share - Net earnings (loss) available to Whirlpool |  | $ | 152 |  |  | $ | 471 |
Denominator for basic earnings per share - weighted-average shares |  | 62.8 |  |  | 64.0 |
Effect of dilutive securities - share-based compensation |  | 0.5 |  |  | 0.5 |
Denominator for diluted earnings per share - adjusted weighted-average shares |  | 63.3 |  |  | 64.5 |
Anti-dilutive stock options/awards excluded from earnings per share |  | 2.0 |  |  | 1.8 |

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