Quarterly Results of Operations (Unaudited)

12 Months Ended

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.