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Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results of Operations (Unaudited) | QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The information in the note below has been updated to reflect the retrospective accounting change described in Note 1.
| Three months ended
| December 31, |  | September 30, |  | June 30, |  | March 31,
Millions of dollars, except per share data | 2020(4) | 2019(3) |  | 2020 | 2019(2) |  | 2020 | 2019 |  | 2020 | 2019
Net sales | $ | 5,798 |  | $ | 5,382 |  |  | $ | 5,291 |  | $ | 5,091 |  |  | $ | 4,042 |  | $ | 5,186 |  |  | $ | 4,325 |  | $ | 4,760 |
Cost of products sold | 4,432 |  | 4,353 |  |  | 4,143 |  | 4,352 |  |  | 3,417 |  | 4,256 |  |  | 3,622 |  | 3,947 |
Gross margin | 1,366 |  | 1,029 |  |  | 1,148 |  | 739 |  |  | 625 |  | 930 |  |  | 703 |  | 813 |
Operating profit (loss) | 718 |  | 405 |  |  | 563 |  | 691 |  |  | 71 |  | 189 |  |  | 263 |  | 264 |
Interest and sundry (income) expense | 17 |  | 54 |  |  | (22) |  | (29) |  |  | (15) |  | (63) |  |  | (1) |  | (130) |
Net earnings (loss) | 503 |  | 273 |  |  | 393 |  | 363 |  |  | 20 |  | 71 |  |  | 149 |  | 475 |
Net earnings (loss) available to Whirlpool | 499 |  | 273 |  |  | 392 |  | 357 |  |  | 30 |  | 66 |  |  | 154 |  | 472 |
Per share of common stock:(1) |  |  |  |  |  |  |  |  |  |  |
Basic net earnings (loss) | $ | 7.93 |  | $ | 4.33 |  |  | $ | 6.27 |  | $ | 5.60 |  |  | $ | 0.47 |  | $ | 1.02 |  |  | $ | 2.46 |  | $ | 7.37 |
Diluted net earnings (loss) | 7.80 |  | 4.29 |  |  | 6.19 |  | 5.55 |  |  | 0.47 |  | 1.02 |  |  | 2.45 |  | 7.32 |
Dividends | 1.25 |  | 1.20 |  |  | 1.20 |  | 1.20 |  |  | 1.20 |  | 1.20 |  |  | 1.20 |  | 1.15 |
(1)The quarterly earnings per share amounts will not necessarily add to the earnings per share computed for the year due to the method used in calculating per share data. (2)The operating profit and net earnings for the three months ended September 30, 2019 includes a gain on sale and disposal of businesses of $437 million, a $180 million gain related to Brazil indirect tax credits and a $105 million charge related to product warranty expense on EMEA- produced washers. See Note 8, Note 11, Note 14 and Note 17 to the Consolidated Financial Statements for additional information. (3)The gross margin for the three months ended December 31, 2019 includes a gain of $95 million related to a sale and leaseback transaction. See Note 1 to the Consolidated Financial Statements for additional information. (4)The gross margin for the three months ended December 31, 2020 includes a gain of $113 million related to a sale and leaseback transaction. See Note 1 to the Consolidated Financial Statements for additional information.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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